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

Singapore-based restaurant management platform provider TabSquare has raised S$3.5 million ($2.57 million) in its Series A funding round led by Walden International, with participation from Infocomm Investments Pte Ltd, Phillip Private Equity and serial investor Ivan Lee’s private investment vehicle, Raging Bull.

The funding is raised to enhance its platform, although the startup did not detail its plans in its announcement.

The startup which offers an integrated cloud-based operations management and customer engagement platform for the food & beverage (F&B) industry. It is 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.

“Restaurants today are faced with scattered technology offerings – be it reservations, reviews, delivery or loyalty – that impact less than 10 per cent of the restaurants’ revenues and addresses only some of their pain points,” TabSquare noted in its press statement.

Its platform has three main offerings – TabSquare SmartTab, a customized tablet menu on which customers can view dishes, get recommendations, place orders, redeem promotions and even pay their bills, without waiting for the waiter; TabSquare SmartApp allows the restaurant to build their business beyond the physical store; and TabSquare Nucleus, the cloud-based data warehouse and analytics engine, allows restaurant owners to update the menu on-the-fly as well as provide data analytics to understand consumer behavior and spending patterns.

Its easy-to-adopt platform is Integrated with the leading point-of-sale (POS) systems in the region.

The startup is founded by three INSEAD graduates, Anshul Gupta, Chirag Tejuja and Sankaran Sreeraman.

General Manager of Infocomm Investments, Pang Heng Soon commented that TabSquare’s platform offers solutions that improves productivity by lowering labour and operational costs while powering-up revenues with data-driven, customised recommendations for diners.

“We see this as a strong value proposition not just in Singapore but also for the international markets,” he said.

TabSquare counts over 60 F&B brands and more than 150 stores as customers.

Current customers include some of the established players in the industry like Far East Hospitality, Food Theory Group, Global Retail Partners, Japan Foods Holding, and other well-known brands including Nihon Mura, Bistro 1855 and Wala Wala Group.

Also Read:

Singapore: Restaurant guide app Burpple gobbles up Series A funding from Tembusu, SPH Media & Truimph Capital

Singapore based Chope secures $8m in Series C round led by F&H Fund Management, NSI Ventures

Malaysia: Restaurant discovery platform Offpeak gets $117k Cradle grant for local expansion

India: Restaurant review site Zomato to invest $40m in nascent food-ordering business

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.