Facts and Figures
Since 2012, investors have put in around $2.5 billion into the category of technology in restaurants all across 600 deals. Not just investment, there has also been much acquisition with Yelps, recently acquiring seating management tool and Subway purchasing mobile paying tool named Avanti Commerce. Also, Revel Systems which is considered one of the most funded companies in the world was purchased for more than $580 million by a private equity Welson Carson Anderson and Stowe. The new investors are also stepping into the market in order to make their restaurants as technologically advanced as possible. For instance, the Food delivery startup names Just Eat recently started a food technology accelerator whose investments feature various restaurants tech startups.
Evolution in the Industry
To better access the scene of evolving restaurant tech startup, various infographics highlight more than 100 startups and the section of the restaurant that they target. Startups are developing hardware and software to help the business of the restaurants to expand and be more successful. While some startups work with another kind of brick-and-retailers, the major one uses restaurants in major cases. It was also inspected that the evolution of brick-and-mortar occurred with the help of technologies such as augmented reality displays and shopper-tracking beacons. In addition, startups mainly focused on grocery store management.
The categories that the startups deal in
Various startups aim at the front-of-house of the restaurant and deal with categories such as:
• Providing Wi-Fi to the guest: Startups such as WiWide and Zenreach offer restaurants with Wi-Fi systems for guests that track the person who is logging in and off to help the restaurants get a better analysis of the behavior and demographics of the customers.
• Digital Displays: Startups such as Enplug offer digital displays for the inside use of restaurants, promotions, showing menu items, etc. Loyalty and rewards programs: With FiveStars funding $89.9 million, Belly $25.6 million and LevelUp spending $53.4 million, have ranked themselves top on the restaurant loyalty list. These startups provide reward systems, pay-by-phone, and points options for their customers and offer marketing opportunities for restaurants.
• Reservation Platforms: The startups such as Resy funding $15 million work with firms to provide online reservation platforms to the customers. This is a comparably swarmed field.
• Providing phone-charging section to the customers: Many startups provide sections especially cafes, event venues, restaurants that allow the guests to charge their cell phones.
• Table-top Devices: Startups such as E la Carte funding $68.5 million, along with its Presto system of dining offer communicative tablets that allow their guests to roll down the digital menu and place an order via touchscreen and pay by their card from the table.
• Payment via smartphones: Startups including TabbedOut funding $41.1 million paired up with restaurants to allow their guests to pay and divide the bill with the help of their smartphones.
• Education of the employee: Serve Anywhere offers digital learning tools that are focused on the restaurant industry.
• Financial Management: Startups such as PlatelQ and Soucery provide financial management software for restaurants that helps with the accounts and various other things.
I am Ankit Patel, A project analyst at XongoLab Technologies, A topnotch mobile apps development services provider. I am also managing the company as well client's content writing department, where I write about the new & upcoming technologies as well as some useful IT related topics like apps, web, design & IT business. I am a complete Technology addicted person & like to creating quality and valuable content and sharing it with readers.