Easy Eat AI Raises $5M to Digitize Southeast Asian Restaurants

Easy Eat AI Secures $5 Million Funding to Digitize Restaurants

Easy Eat AI, a Singapore-based startup focused on the digital transformation of the restaurant industry, has announced a successful funding round of $5 million. The company aims to equip restaurants with the technological tools necessary to operate as modern, data-driven businesses.

An All-in-One Operating System for Food Businesses

Easy Eat AI provides a comprehensive operating system designed to digitize all facets of a restaurant’s operations. This includes managing inventory, processing customer orders, streamlining delivery services, and leveraging AI-powered data analytics to enhance revenue generation.

Accelerated Digitization Post-Pandemic

The COVID-19 pandemic spurred many food and beverage establishments to adopt digital ordering and payment systems to facilitate deliveries. While Easy Eat AI allows integration with existing third-party food ordering applications, it also boasts its own delivery network.

This in-house delivery infrastructure, utilizing on-demand riders, offers a significantly lower commission rate of just 4% per order. This contrasts sharply with the 20%-30% fees commonly charged by major food delivery platforms.

Expansion Plans and Key Investors

Established in 2019 by Mohd Wassem, Rhythm Gupta, and Abdul Khalid, Easy Eat AI currently operates in Malaysia. The company intends to extend its reach to other markets throughout Southeast Asia.

The funding round saw participation from prominent investors including Aroa Ventures, Reddy Futures Family Office, Prophetic Ventures, Maninder Gulati, Cem Garih, and Fethi Sabancı Kamışlı.

Addressing a Digital Gap in Southeast Asia’s Food Scene

According to Wassem, despite Southeast Asia being renowned for its vibrant food culture, the restaurant sector remains comparatively underdeveloped in terms of digital adoption. Prior to the pandemic, approximately 80% of restaurant revenue originated from dine-in customers.

Manual order-taking processes limited the collection of valuable customer data, hindering insights into preferences, ordering habits, and return frequency.

Building Digital Customer Connections

Easy Eat AI’s platform empowers restaurants to establish direct digital relationships with their clientele. Notable clients include established chains such as Richiamo Coffee, Mr. Fish Fishhead Noodles, WTF Group, and Hailam Toast.

The platform’s features, including targeted marketing and loyalty programs, prove beneficial for both delivery and in-person dining experiences.

QR Code Ordering and Seamless Payments

The consumer-facing interface of Easy Eat AI centers around QR code ordering. Customers scan the code with their smartphones, accessing the restaurant’s online menu directly.

Users can select their desired items, create an account, or log in using their mobile number. The platform also facilitates payments and access to reward programs.

Increased Spending Through Digital Ordering

Analysis of over 100,000 orders from more than 50 restaurants over a six-month period revealed that customers spend approximately 30% more when ordering digitally compared to traditional waiter service.

This mirrors the online shopping experience, where browsing often leads to additional purchases.

Targeted Marketing and Customer Retention

After approximately 30 to 45 days of utilizing Easy Eat AI, restaurants can build a customer database. This enables targeted online marketing campaigns, delivering personalized offers to customers most likely to respond.

Mr. Fish Case Study: Data-Driven Results

Following its launch at Mr. Fish’s third outlet, the platform collected data from over 1,400 customers within a month. Analysis showed that 20% of customers were repeat visitors, with an average return interval of 12 days.

Based on this data, targeted marketing campaigns were implemented to re-engage customers who hadn’t visited within 20 days. Simultaneously, Mr. Fish began utilizing Easy Eat AI for delivery, with 13.4% of orders originating from the platform by month’s end, reducing reliance on third-party apps.

Investor Confidence in Easy Eat AI’s Vision

Keshav Reddy, managing partner of Reddy Futures Family Office, stated, “The team is customer obsessed and understands the pain problems of the industry. Their innovative software platform will be disruptive to the entire F&B ecosystem and how customers engage through the entire F&B lifecycle in the online-to-offline world.”