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Easy Eat AI, a foodtech business based in Singapore, has raised $5 million in new funding.
Mohd Wassem, the founder of Easy Eat AI,
Noordin, Khairani Afifi
15th of July, 2021
Easy Eat AI, a Singapore-based foodtech business, has raised $5 million in a new round of funding from investors including Ritesh Agarwal’s family office, the founder of hotel aggregator OYO.
According to a release, other investors include Prophetic Ventures, Reddy Futures Family Office, Maninder Gulati, OYO global chief strategy officer, Alarko Ventures managing partner Cem Garih, and Fethi Sabanc Kamşl, founder and managing partner of Esas Ventures.
Easy Eat AI is an operating system for restaurants that includes QR-based table ordering, loyalty programs, payment solutions, social media integration, inventory management, and integrated delivery services.
Restaurants may capture each data point in the value chain by using Easy Eat AI’s technology, which leads to a greater understanding of consumers’ preferences, increased revenue, and lower costs, according to the business. Easy Eat AI has increased restaurant income by 30% and cut operational costs by 15% in the last year.
The company’s partner eateries, according to Easy Eat AI creator Mohd Wassem, have been able to weather the impact of Covid-19 better than other restaurants. “Even during the height of the shutdown, our merchants were bringing in half of their typical revenue. The restaurants with no clear digital strategy would continue to suffer even after the covid with limited revenue-generating prospects, growing cost of operations, and reliance on third-party platforms for delivery paying 30-35 percent commission,” stated Wassem.
Easy Eat AI, which was founded in 2019 by Wassem, Rhythm Gupta, and Abdul Khalid, has chosen Malaysia as its first market before extending to other Southeast Asian countries. Richiamo Coffee, Mr Fish Fishhead Noodles, WTF Group, and Hailam Toast are some of its Malaysian partners.
Easy Eat AI raised an undisclosed amount of money in March from investors including Manik Gupta, Uber’s former chief product officer. The deal comes just over a year after the company received its pre-Series A funding.
AI oyo is simple to eat.
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Singapore Digest: Easy Eat raises money; AirAsia begins meal delivery service in the city-state
Manik Gupta, Uber’s former chief product officer, has endorsed Easy Eat.
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