Singapore’s TabSquare secures $7.2m in Kakaku.com-led Series B

Photo from TabSquare's website

Singapore-based restaurant management platform provider TabSquare has raised S$10 million ($7.2 million) in its Series B funding round led by Kakaku.com Inc, a Tokyo-listed online services provider.

In a statement, TabSquare said, the fresh investments will help it further enhance its AI-powered restaurant solutions and accelerate its growth in Asia Pacific markets, including Australia, Indonesia, Malaysia, Singapore, and Thailand.

The Series B funding round, which was closed more than two years after the company raised S$3.5 million ($2.57 million) in its Series A led by Walden International, was backed by Coca-Cola Amatil, Resorts World Inc and its existing investor.

Founded in 2012, TabSquare provides an integrated cloud-based operations management and customer engagement platform for the food & beverage industry.

The firm said, restaurants today are faced with scattered technology offerings – whether it’s reservations, reviews, delivery, or loyalty – that impact less than 10 per cent of their revenues and addresses only some of their pain points.

“We focused on solving the more critical pain points that are core to a restaurant’s profitability and which impact 90 per cent of the restaurant revenues,” TabSquare said.

The company said its main products – SmartTab eMenu and the SmartKiosk – uses artificial intelligence to make personalized menu recommendations and improve customers’ ability to order, pay, and deliver feedback.

It currently has 6,000 active terminals service over 12 million diners in the region annually.

“TabSquare has a very different view of the restaurant landscape and the role AI can play in propelling the industry forward. We believe each diner is unique and should be treated that way,” said co-founder Anshul Gupta.

He added that TabSquare will invest heavily in AI technology to “make it even more effective and personalized using additional data points, and superior algorithms”.

Kakaku.com Inc, the lead investor in the funding round, runs Tabelog, a restaurant discovery and reservation platform. It has a diverse service portfolio in multiple verticals, including shopping, food, travel, lifestyle, and real estate and is listed on the Tokyo Stock Exchange.

“We hope to benefit from TabSquare’s insights on in-restaurant user experiences, including AI enhanced recommendations, to explore an opportunity to bring them into the Japanese market,” Genta Sugihara, Executive Officer of Kakaku’s Corporate Development Division, said.

Last year, Kakaku.com Inc anchored the S$14 million ($10.1 million) Series B funding of MoneySmart.sg, the online personal finance portal based in Singapore.

Founded by three INSEAD graduates – Anshul Gupta, Chirag Tejuja, and Sankaran Sreeraman – TabSquare first raised $480,000 in its Seed Round in January 2013. The round was co-led by Get2Volume and INSEAD professor Serguei Netessine.

Also Read:

Singapore’s TabSquare raises $2.57m Series A led by Walden International

Japan’s Dentsu to sell kakaku.com stake to KDDI for $734m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.