Category: restaurants

Easy Eat AI raises $5M to help Southeast Asian restaurants digitize their operations



Easy Eat AI, a Singapore-based startup that wants to “transform restaurants into technology companies,” announced today it has raised $5 million in funding. Easy Eat AI offers an operating system for restaurants that lets them digitize all parts of their business, from inventory and customer orders to delivery, and gain AI-based data analytics to improve revenue.

Many food and beverage businesses started digitizing orders and payments so they could offer deliveries during the COVID-19 pandemic. Though Easy Eat AI lets restaurants integrate with third-party food ordering apps, it also has its own delivery infrastructure, including on-demand riders, that costs just 4% per order, compared to the 20%-30% that many of the largest food delivery platforms charge.

Founded in 2019 by Mohd Wassem, Rhythm Gupta and Abdul Khalid, Easy Eat AI currently has operations in Malaysia, and plans to expand into other Southeast Asian markets. The funding included participation from Aroa Ventures, the family office of OYO founder Ritesh Agarwal; Reddy Futures Family Office; Prophetic Ventures; OYO global chief strategy officer Maninder Gulati; Alarko Ventures managing partner Cem Garih; and Esas Ventures founder and managing partner Fethi Sabancı Kamışlı.

Wassem told TechCrunch that Easy Eat AI was created because even though Southeast Asia “is a food paradise, everyone eats out, eating out is a culture here,” the restaurant industry is still one of the least advanced digitally. Before the pandemic, he said that about 80% of restaurant business came from in-person dining, but taking orders manually resulted in very little (Read more...)

Easy Eat AI raises $5M to help Southeast Asian restaurants digitize their operations



Easy Eat AI, a Singapore-based startup that wants to “transform restaurants into technology companies,” announced today it has raised $5 million in funding. Easy Eat AI offers an operating system for restaurants that lets them digitize all parts of their business, from inventory and customer orders to delivery, and gain AI-based data analytics to improve revenue.

Many food and beverage businesses started digitizing orders and payments so they could offer deliveries during the COVID-19 pandemic. Though Easy Eat AI lets restaurants integrate with third-party food ordering apps, it also has its own delivery infrastructure, including on-demand riders, that costs just 4% per order, compared to the 20%-30% that many of the largest food delivery platforms charge.

Founded in 2019 by Mohd Wassem, Rhythm Gupta and Abdul Khalid, Easy Eat AI currently has operations in Malaysia, and plans to expand into other Southeast Asian markets. The funding included participation from Aroa Ventures, the family office of OYO founder Ritesh Agarwal; Reddy Futures Family Office; Prophetic Ventures; OYO global chief strategy officer Maninder Gulati; Alarko Ventures managing partner Cem Garih; and Esas Ventures founder and managing partner Fethi Sabancı Kamışlı.

Wassem told TechCrunch that Easy Eat AI was created because even though Southeast Asia “is a food paradise, everyone eats out, eating out is a culture here,” the restaurant industry is still one of the least advanced digitally. Before the pandemic, he said that about 80% of restaurant business came from in-person dining, but taking orders manually resulted in very little (Read more...)

Ranked: The Performance of Restaurant Stocks on the NYSE


This post is by Aran Ali from Visual Capitalist


restaurant stocks 12 month performance

The Briefing

  • In the last 12 months, the performance of restaurant stocks on the NYSE ranges from 90% to -21%
  • The average return for restaurant stocks has been 16.8%, underperforming the NYSE Composite’s 23.8% over the same time period.
  • Executing on a digital ecosystem has been a big driver of value for the best performers on the list

Restaurant Stocks on the NYSE

Restaurants, arguably more than other industries, have had to adjust swiftly to a new and unrecognizable landscape during the pandemic. And the level of preparedness towards adverse and unpredictable conditions reflects in the last 12 month (LTM) stock price performance of the 18 restaurant stocks on the NYSE.

The performance for this basket of stocks ranges from a high of 90% to a low of -21%. The companies that have rewarded shareholders are at the forefront of industry trends, doubling down on a digital ecosystem through concepts like membership programs, ghost kitchens, delivery, and mobile sales.

Winners and Losers

The vast division of stock price performance has a David and Goliath component to it in that the larger companies with deeper pockets have had the ability to invest in modern initiatives.

The top five performing stocks have an average market cap of $14 billion, while the bottom five possess an average of $630 million.

StockLast 12 Month PerformanceMarket Cap ($M)
Brinker International, Inc.90.85%$3,120
Shake Shack, Inc.88.63%$4,970
Chipotle Mexican Grill, Inc.70.19%$40,580
Yum China Holdings, Inc.37.53% (Read more...)