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Tracxn Food Tech Startup Landscape, July 2016

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Chinese FoodTech companies are raising benchmarks set by their American counterparts in terms of market maturity.

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Tracxn Food Tech Startup Landscape, July 2016

  1. 1. Food Tech Report, July 2016 Tracxn World’s Largest Startup Research Platform 2
  2. 2. Food Tech Report, July 2016 Contents Topic Page No. Scope of Report 05 Entrepreneur Activity 08 Investment Trend 10 Who is Investing 18 Exit Outlook - IPO, Acquisitions 22 Sub Sector Analysis 25 Interesting Companies 43 Useful Links 54 Company List 56 Team 613 3 3
  3. 3. Food Tech Report, July 20164 Illustrative Sectors We Track ENTERPRISE INFRASTRUCTURE ENTERPRISE APPLICATIONS MOBILECONSUMER TECH FINTECH EDUCATION HEALTHCARE SECURITY STORAGE NETWORKING MOBILITY IT OPS CLOUD INFRASTRUCTURE API MANAGEMENT BIGDATA INFRASTRUCTURE SAAS MOBILE-FIRST ENT. APPS INTELLIGENT ENT. APPS OPEN SOURCE RETAIL TECH MARKETING TECH STEALTH MODE VERTICAL SAAS MOBILE COMMERCE MOBILE PAYMENTS MOBILE MARKETING MOBILE DEV TOOLS MOBILE HEALTH MOBILE GAMING MOBILE LEARNING MOBILE COMMUNICATION MARKETPLACES SUBSCRIPTION COMM. FOOD TECH INTERNET FIRST BRANDS UBER FOR X SECOND HAND GOODS ONLINE TRAVEL GAMING INTERNET OF THINGS 3D PRINTING BITCOIN PAYMENTS EDUCATION IT SELF LEARNING LIFE SCIENCES DIGITAL HEALTH
  4. 4. Food Tech Report, July 20165 Sector Overview Scope of Report This report covers companies that offer: • Services that help in connecting food providers with consumers. • Services in connecting grocery retailers and producers with consumers (both B2B and B2C). • Technology solutions for better management of food and beverage establishments. • Innovations in alternative foods, beverages and food substitutes. • Innovative solutions for food preparation and food waste management. • Food based content, recipe aggregation and pet food sectors. This report does not cover the following: • Restaurant chains, retail chains and other establishments involved in the food trade. • Companies that deal in packaged foods and beverages. • Companies dealing in technology and innovation in food processing, packaging and quality testing sectors. • Companies that manufacture, supply and/or retail processed food products. The scope of this report includes equity as well as debt funding received by the companies.
  5. 5. Food Tech Report, July 20166 Sector Overview Recent Notable Activities • A total of $6.8 Billion was invested in Global Food Tech in 2015, with an increase in larger and later stage deals. • Majority of investment and acquisition activities were driven by China, Germany, India and the United Kingdom. • Chinese companies are raising benchmarks set by their American counterparts in terms of market maturity. Examples: Merger of China’s competing firms Meituan and Dianping is valued at $18B while Ele.me raised a total funding of $2.34B. • M&A activities were strong in 2015 with 60 deals and the trend should continue into 2016 . Potential companies for acquisition are ones that have gained considerable scale. • The overall Food On-Demand market is nearing a mature stage and the incumbents are looking forward to increase their strategic stake in the ecosystem (Rocket Internet’s Hello Food, is nearing Yelp, Zomato, GrubHub etc.). • Online Grocery Retailers have continued to scale. Established online players like Instacart are expanding into new markets, while traditional grocers like Kroger and Walmart are adopting to online ordering and delivery services. E-commerce giants such as Amazon are testing waters in the same segment. (Amazon recently started grocery delivery services in the UK, first such outside the US). • Also in the fray are Meal-Kit Delivery services (or fresh-food subscriptions) that are collectively estimated to raise $1.5B in sales in 2016, despite not being profitable yet. • Food Substitutes market which include companies making plant-based protein substitutes, is receiving significant interest from investors (Impossible Foods closed a $108M round in Dec, 2015). Notably, the big funded players still do not have their products in the market. • Significant early stage investment activities have been observed as well in IOT - enabled kitchen appliances market. Juciero, June and Tovala closed multiple rounds of funding. A similar investment is expected to continue in 2016-17.
  6. 6. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 7 7
  7. 7. Food Tech Report, July 2016 155 242 316 372 438 569 45 0 120 240 360 480 600 2010 2011 2012 2013 2014 2015 2016 NumberofCompanies 8 YoY – Number of companies founded Delivery Hero Baidu Waimai Foodpanda DoorDash Meicai Yqphh (Pinhaohuo) StreetfoodQuest Jiuxian BigBasket HelloFresh Grofers Beequick Runnr Allium
  8. 8. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 9 9
  9. 9. Food Tech Report, July 201610 YoY – Number of Rounds and Total Funding $65M $187M $338M $645M $626M $932M $2.6B $6.1B $2.6B 25 46 82 149 213 327 349 483 133 0 120 240 360 480 600 0 1400 2800 4200 5600 7000 2008 2009 2010 2011 2012 2013 2014 2015 2016 NumberofRounds FundingAmount(inMillions) Funding Amount Number of Rounds Note: The funding includes debt rounds also.
  10. 10. Food Tech Report, July 201611 YoY – Number of Rounds by Stage 76 110 172 158 172 41 44 62 93 127 208 63 10 12 23 31 46 17 0 90 180 270 360 450 2011 2012 2013 2014 2015 2016 NumberofRounds Seed Early Late
  11. 11. Food Tech Report, July 201612 YoY – Funding by Stage $18M $47M $108M $123M $127M $38M $356M $267M $408M $1B $2B $544M $250M $275M $394M $957M $2.5B $2B 0 1000 2000 3000 4000 5000 2011 2012 2013 2014 2015 2016 TotalFundingAmount(inMillions) Seed Early Late
  12. 12. Food Tech Report, July 201613 Average Ticket Size – Early Stage $0.5M $0.9M $1.1M $1.5M $1.5M $1.8M $5.2M $4.3M $4.4M $8.4M $9.6M $7.5M $22.9M $10.2M $7.3M $17.8M $20.1M $29.3M 0.0 7.0 14.0 21.0 28.0 35.0 2011 2012 2013 2014 2015 2016 FundingAmount(inMillions) Seed Series A Series B
  13. 13. Food Tech Report, July 201614 Top investments in last one year Company Funding Amount Round Name Date Investors ele.me Ele.me (Shanghai, 2008) $1.3B PE Apr-2016 Alibaba ele.me Ele.me (Shanghai, 2008) $630M Series F Aug-2015 CITIC Capital, Gopher Asset Management, Beijing Hualian Group, Jingdong, Tencent, Sequoia Capital, China Media Capital waimai.baidu.com Baidu Waimai (Beijing, 2011) $310M Series A Jul-2015 womai.com Womai (Beijing, 2008) $220M Series C Oct-2015 Baidu, Taikang bigbasket.com BigBasket (Bangalore, 2011) $150M Series D Mar-2016 Bessemer Venture Partners, The Abraaj Group, Helion Venture Partners, IFC, Sands Capital Ventures, Zodius, Ascent Capital blueapron.com Blue Apron (New York City, 2012) $135M Series D Jun-2015 Fidelity Investments, Bessemer Venture Partners, First Round Capital, Stripes Group doordash.com DoorDash (Palo Alto, 2013) $127M Series C Mar-2016 Sequoia Capital, KPCB, Khosla Ventures, Y Combinator, Wellcome Trust grofers.com Grofers (Delhi, 2013) $120M Series C Nov-2015 Tiger Global Management, Sequoia Capital, SoftBank
  14. 14. Food Tech Report, July 201615 Top investments in last one year Company Funding Amount Round Name Date Investors benlai.com Benlai (Beijing, 2012) $117M Series C May-2016 Joyoung, CDH Investments, China Equity, Integral Group deliveryhero.com Delivery Hero (Berlin, 2010) $110M Series I Jun-2015 impossiblefoods.com Impossible Foods (Redwood City, 2011) $108M Series D Oct-2015 UBS, Horizon Ventures, Viking, Khosla Ventures deliveroo.co.uk Deliveroo (London, 2012) $100M Series D Nov-2015 DST Global, Greenoaks Capital, Accel Partners, Hummingbird Ventures, Index Ventures fruitday.com Fruitday (Shanghai, 2009) $100M Series D Mar-2016 hellofresh.com HelloFresh (Berlin, 2012) $85M Series F Sep-2015 Baillie Gifford jiuxian.com Jiuxian (Beijing, 2010) $81M Series G Jul-2015 beequick.cn Beequick (Beijing, 2014) $70M Series C Sep-2015 Sequoia Capital, Hillhouse Capital Group, Tiantu Capital, Eastern Bell Venture Capital
  15. 15. Food Tech Report, July 201616 Funnel view of Sector Percent of Previous 38% 48% 38% 170 90 182 484 1000 2663 0 500 1000 1500 2000 2500 3000 M&A & IPO Late Series B Series A Funded Founded Number of Companies
  16. 16. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 7 17
  17. 17. Food Tech Report, July 201618 Most Active Investors in Sector 44 37 26 23 19 18 15 15 14 13 0 10 20 30 40 50 Sequoia Capital 500 Startups Khosla Ventures Y Combinator Accel Partners Index Ventures First Round Capital Lerer Hippeau Ventures IDG Capital Partners Bessemer Venture Partners TotalNumberofCompanies DoorDash Winc DoorDash DoorDash Deliveroo Deliveroo Blue Apron Soylent Ricebook Blue Apron Ricebook Club W Blue River Tech Soylent Swiggy Blue Bottle Coffee June Plated Womai BigBasket
  18. 18. Food Tech Report, July 201619 Where are Top Investors investing Sequoia Capital 500 Startups Khosla Ventures Y Combinator Accel Partners Index Ventures First Round Capital Lerer Hippeau Ventures IDG Capital Partners Bessemer Venture Partners Food Ordering platforms DoorDash Ele.me Line0 Chewse Goldbely Bento Technology DoorDash Tapingo DoorDash SpoonRocket Zesty Deliveroo Swiggy Sprig Deliveroo Just Eat Zesty EAT Club Real Food Works Haosesalad Linqu Yamichu Maple Groceries Webvan Instacart Grofers HappyFresh Mile High Organics Love With Food Instacart Instacart GrubMarket Foodoro Abe's Market ZopNow Cornershop Good Eggs Abe's Market Blue Apron Plated Hungryroot Fresh Nation Womai Three Squirrels Yqphh (Pinhaohuo) Blue Apron BigBasket Beverages Jiuxian Winc Club W Craft Coffee Underground Enterprises Lot18 Teabox Blue Bottle Coffee Winc Club W Tech for Restaurants Thanx Acewill Bizimply Ordr Butter Systems, Inc. SinglePlatform Cover Toast Tab Dine Out Ricebook Zomato Laiyaoyao Qraved ReserveOut Foodspotting Ness Luka Munch On Me YumDots Reserve Receive Funds Resy Ricebook Technology Solutions Pantry Blue River Tech Consumer Physics Clear Labs Focal systems Replenish Foods June June Soma Food Substitutes Modern Meadow Impossible Foods Hampton Creek UnReal Candy Soylent Soylent Soylent
  19. 19. Food Tech Report, July 201620 Top Investor by Stage of Entry 500 Startups 19 Y Combinator 16 Start-Up Chile 8 Entrepreneurs Roundtable Accelerator 7 Great Oaks Venture Capital 6 Kima Ventures 6 Lerer Hippeau Ventures 6 SV Angel 6 BFTP 5 Lemnos Labs 5 Sequoia Capital 12 IDG Capital Partners 5 Khosla Ventures 5 DN Capital 4 Index Ventures 4 KPCB 4 SoftBank 4 Accel Partners 3 Banyan Capital 3 Bessemer Venture Partners 3 Sequoia Capital 9 Khosla Ventures 5 KPCB 4 Phenomen Ventures 4 Accel Partners 3 Goldman Sachs 3 Holtzbrinck Ventures 3 Index Ventures 3 Insight Venture Partners 3 Jingdong 3 Seed Series A Series B Later Stage Sequoia Capital 15 500 Startups 10 Khosla Ventures 10 Index Ventures 8 Accel Partners 7 Lerer Hippeau Ventures 7 First Round Capital 6 Point Nine Capital 5 SV Angel 5 Andreessen Horowitz 4
  20. 20. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 1 21
  21. 21. Food Tech Report, July 201622 Top IPOs in last five years IPO Date Company Overview Investors Funding Amount Ticker May-2014 freshpet.com Freshpet (Secaucus, 2006) Manufacturer of refrigerated pet food FRPT Apr-2014 grubhub.com GrubHub (Chicago, 2004) Online and mobile food ordering platform Lightspeed Venture Partners, Benchmark, DAG Ventures, T. Rowe Price, Stripes Group, Spectrum Equity, Greenspring Associates, SeventySix Capital, Origin Ventures, Amicus Capital, Leo Capital Holdings, Mesirow Financial, Binary Capital $135.1M GRUB Apr-2014 just-eat.com Just Eat (London, 2000) Order takeaway online Greylock Partners, Redpoint Ventures, Index Ventures, Axon Partners Group, Vitruvian Partners $166M LON:JE Jul-2011 chefswarehouse.com The Chefs Warehouse (Ridgefield, 1985) Gourmet foods and restaurant supply. $135M CHEF May-2011 solazyme.com Solazyme (Francisco, 2003) Algal-derived Biodiesel producer Lightspeed Venture Partners, Morgan Stanley, Chevron, The Roda Group, VantagePoint Capital Partners, Bluecrest Capital Finance, Department of Energy, HHVC, Braemar Energy, Zygote Ventures $119M NASDAQ:SZYM Jan-2016 mobivity.com Mobivity (Chandler, 2007) Marketing tool for multi channel restaurants $24.17M OTCMKTS:MFON Jan-2010 ocado.com Ocado (Hatfield, 2002) The online supermarket OCDO
  22. 22. Food Tech Report, July 201623 Major Acquisitions in last one year Date Company Acquirer Deal Size Overview Total Funding Jun-2016 tinyowl.com TinyOwl (Mumbai, 2014) runnr.in Undisclosed Mobile-only food ordering platform Nexus Venture Partners, Matrix Partners India, Sequoia Capital, Matrix Partners $27.7M May-2016 abesmarket.com Abe's Market (Chicago, 2009) directeats.com Undisclosed Online natural product marketplace Accel Partners, Index Ventures, Viola Group, OurCrowd, Carmel Ventures, Beringea, Bearing Capital, Mistral Equity $18.4M May-2016 yummy77.com Yummy77 (Shanghai, 2013) jialebao.cc Undisclosed Online grocery retailer Amazon.cn $20M May-2016 grocerybutler.com.au Grocery Butler (South Yarra, 2014) shopwings.com.au Undisclosed Closed marketplace for grocery delivery by a personal shopper Artesian, Black Sheep Capital $447.92k May-2016 labite.com LAbite.com, Inc. (Culver City, 2013) grubhub.com $65M On-demand delivery from Southern California restaurants. Apr-2016 brewdrop.com BrewDrop (Austin, 2013) delivery.com Undisclosed Beer & Wine Delivery App $50k Apr-2016 makanluar.com Makanluar (Jakarta, 2013) chope.co Undisclosed Reservation booking in restaurants Apr-2016 paywithdash.com Dash (Lagos, 2011) reserve.com Undisclosed Mobile payments service at bars and restaurants. Great Oaks Venture Capital, New York Angels, Brooklyn Incubator, Caerus Ventures $1.9M
  23. 23. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 4 24
  24. 24. Food Tech Report, July 201625 July 2016Tracxn BlueBox : Food Tech Cumulative funding in the sectorPractice Area - Consumer | Analysts: @Medha FOOD ORDERING PLATFORMS Home Chef Marketplace HolaChef (2014, $3M) Restaurant Aggregators GrubHub (2004, IPO) Internet First Restaurants Munchery (2011, $117M) DINE OUT Table Booking BookATable (2006, $63M) Discovery Zomato (2008, $224M) $427M $6.2B BEVERAGES Non - Aloholic Drinks Blue Bottle Coffee (2002, $120M ) Alcoholic Drinks Jiuxian (2010, $310M) $1.1B CHEF MARKETPLACE TECH FOR RESTAURANTS Buzztime (1984, IPO) CONTENT Tastemade (2012, $80M) $105M ONLINE GROCERIES Ocado (2002, IPO) $4.4B $1B $181M Chef Hosted Mishi Wangluo (2015, $19M) Chef At Home Hao Chushi (2014, $21.8M) FOOD SUBSTITUTES Impossible Foods (2011, $183M) TECHNOLOGY SOLUTIONS Innit (2013, $25M) SPECIALITY FOOD Hilary's (2010, $2M) $522M $518M $35M 2500+ companies in the sector, of which 1000+ are funded. 484 have raised series A, while 90+ have raised late stage funding. Most Active Investors: 500 Startups, Sequoia Capital, SOSV, Great Oaks Venture, Y Combinator.
  25. 25. Food Tech Report, July 201626 Top Business Models by Funding $6.3B $4.4B $1.2B $1.1B $709M $510M $498M $109M $104M $73M 0 1400 2800 4200 5600 7000 Food Ordering platforms Groceries Beverages Tech for Restaurants Dine Out Technology Solutions Food Substitutes Content Chef Marketplace Recipe Aggregator TotalFundingAmount(inMillions) # Cos. 695 564 367 327 290 64 43 41 63 39 Avg. Age 2013 2011.8 2003 2010.4 2012 2010.2 2008.8 2010.4 2013 2010.5 Ele.me Webvan Jiuxian Revel Systems Zomato ThinFilm Electronics Impossible Foods Tastemade Hao Chushi XiaChuFang Delivery Hero Womai Blue Bottle Coffee Tillster Bookatable Juicero Hampton Creek Food52 Kitchensurfing Yummly
  26. 26. Food Tech Report, July 201627 Food Ordering Platforms – Business Model Description Platforms that enable users to order food for takeaway or delivery. This business model caters to eat–at–home market. The market provides a variety of food ordering platforms differentiated by factors from sourcing of the meal, ownership of the kitchen to delivery logistics. Restaurant Aggregators Internet First Restaurants Home Chef Platforms Companies in this segment have commercial kitchen and food is prepared by their chefs. They do not have offline outlets and take orders and payments online. Majority of them support delivery services. These platforms enable home chefs by providing a platform to list freshly made food. They operate as marketplaces where consumers can order food sourced from home chefs looking to monotize. Majority of such companies provide delivery support as well. Platforms that enable users to order food either for takeaway or delivery from partnered restaurants. Ordering or take- away platforms only forward the order, while delivery marketplace platforms provide delivery services to the restaurant.
  27. 27. Food Tech Report, July 201628 Food Ordering Platforms – Entrepreneur Activity and Investment Trend $6M $20M $46M $273M $226M $207M $1.1B $2.8B 1 9 9 29 37 60 80 131 0 28 56 84 112 140 0 600 1200 1800 2400 3000 2008 2009 2010 2011 2012 2013 2014 2015 NumberofRounds FundingAmount(inMillions) YoY – Total Funding and No of Rounds $5.9B $342M $8M 0 1400 2800 4200 5600 7000 Restaurant Aggregators Internet First Restaurants Home Chef Platforms FundingAmount(inMillions) BM wise Investment 7 18 32 43 67 71 130 254 0 60 120 180 240 300 2008 2009 2010 2011 2012 2013 2014 2015 NumberofCompaniesFounded YoY – No. of Companies Founded 306 193 36 31 14 11 9 8 0 70 140 210 280 350 India United States China United Kingdom Canada Indonesia Germany France NumberofCompanies Distribution of Companies across Countries
  28. 28. Food Tech Report, July 201629 Food Ordering Platforms – Most Funded Companies Company Overview Business Model Funding Amount ele.me Ele.me (2008, Shanghai) Online ordering and delivery of food from restaurants with its own logistics network Alibaba, Sequoia Capital, Jingdong, Dianping, Matrix Partners, GSR Ventures, Tencent, Beijing Hualian Group, CITIC Capital, Didi Chuxing, China Media Capital, Gopher Asset Management Food Ordering platforms - Restaurant Aggregators - Delivery $2.34B deliveryhero.com Delivery Hero (2010, Berlin) Online food ordering service Insight Venture Partners, General Atlantic, Lead Edge Capital, Kreos Capital, Point Nine Capital, Holtzbrinck Ventures, ruNet, Phenomen Ventures, Hasso Plattner Ventures, Tengelmann Ventures, Kite Ventures, Team Europe, Point Nine, Target Global, Rocket Internet, WestTech Ventures, luxorcap.com, Vostok New Ventures Food Ordering platforms - Restaurant Aggregators - Ordering Platforms $1.13B foodpanda.com Foodpanda (2012, Berlin) Online Food Ordering Service Goldman Sachs, Phenomen Ventures, Investment AB Kinnevik, iMENA, Nova Founders Capital, Rocket Internet Food Ordering platforms - Restaurant Aggregators - Ordering Platforms $318M waimai.baidu.com Baidu Waimai (2011, Beijing) Online food ordering and delivery platform Hina Group Food Ordering platforms - Restaurant Aggregators - Delivery $310M deliveroo.co.uk Deliveroo (2012, London) Restaurant Food Delivery Application Accel Partners, Index Ventures, DST Global, Hummingbird Ventures, Greenoaks Capital, Hoxton Ventures, JamJar Investments Food Ordering platforms - Restaurant Aggregators - Delivery $199.6M doordash.com DoorDash (2013, Palo Alto) On-Demand Food Delivery, exploring beyond food Twitter, Y Combinator, Sequoia Capital, SV Angel, Khosla Ventures, Charles River Ventures, KPCB, Wellcome Trust, Pejman Mar Ventures, Streamlined Ventures, NFX Guild Food Ordering platforms - Restaurant Aggregators - Delivery $186.7M grubhub.com GrubHub (2004, Chicago) Online and mobile food ordering platform Lightspeed Venture Partners, Benchmark, DAG Ventures, T. Rowe Price, Stripes Group, Spectrum Equity, Greenspring Associates, SeventySix Capital, Origin Ventures, Amicus Capital, Leo Capital Holdings, Mesirow Financial, Binary Capital Food Ordering platforms - Restaurant Aggregators - Delivery $135.1M just-eat.com Just Eat (2000, London) Order takeaway online Greylock Partners, Redpoint Ventures, Index Ventures, Axon Partners Group, Vitruvian Partners Food Ordering platforms - Restaurant Aggregators - Ordering Platforms £80.5M
  29. 29. Food Tech Report, July 2016 Recipe BoxRetailers Marketplace Farm to Home Software 30 Groceries – Business Model Description Companies that provide an online platform for buying and selling of grocery items. It excludes offline retail companies such as Costco or Walmart. Companies providing SaaS for online grocers or those that enable users’ to make digital grocery-shopping lists are also included. Online grocers that have their own inventory. Most companies support home delivery or community pick-ups. Platform connecting stores to customers - Do not own inventory. The majority offers hyper-local delivery from nearby stores. Companies that do farm direct e- commerce. These companies primarily cut the middleman and claim to provide better margins to farmers. To customers they propose organic, fresh produce. Recipe based ingredients delivery service. The recipes, primarily gourmet, are curated by chefs and are sent to customers in an interactive format along with prepped ingredients. Companies that do farm direct e- commerce. These companies primarily cut the middleman and claim to provide better margins to farmers. To customers they propose organic, fresh produce.
  30. 30. Food Tech Report, July 201631 Groceries – Entrepreneur Activity and Investment Trend $4M $29M $47M $97M $67M $179M $601M $2.1B 3 9 15 18 53 71 85 141 0 32 64 96 128 160 0 500 1000 1500 2000 2500 2008 2009 2010 2011 2012 2013 2014 2015 NumberofRounds FundingAmount(inMillions) YoY – Total Funding and No of Rounds $1.3B $883M $722M $357M $230M $75M 0 320 640 960 1280 1600 Marketplace Retailers Recipe Box Farm to Home Farm to Business Snack Box FundingAmount(inMillions) BM wise Investment 14 19 33 43 78 82 120 108 0 28 56 84 112 140 2008 2009 2010 2011 2012 2013 2014 2015 NumberofCompaniesFounded YoY – No. of Companies Founded 246 86 40 40 23 14 12 10 0 60 120 180 240 300 United States India China United Kingdom Canada Germany France Australia NumberofCompanies Distribution of Companies across Countries
  31. 31. Food Tech Report, July 201632 Groceries – Most Funded Companies Company Overview Business Model Funding Amount webvan.com Webvan (1996, Foster City) Internet grocery retailer Goldman Sachs, Sequoia Capital, SoftBank, Sequel Venture Partners Groceries - Marketplace $375M womai.com Womai (2008, Beijing) Online B2C grocery retailer focused on selling imported products SAIF Partners, SAIF Partners China, Baidu, IDG Capital Partners, Taikang Groceries $330M hellofresh.com HelloFresh (2012, Berlin) Meal recipe kit subscription service Insight Venture Partners, Holtzbrinck Ventures, Phenomen Ventures, Rocket Internet, Investment AB Kinnevik, Vorwerk Direct Selling Ventures, Baillie Gifford, Nova Founders Capital, Rocket Internet Groceries - Recipe Box $278.5M instacart.com Instacart (2012, San Francisco) Marketplace for same-day grocery delivery Y Combinator, Canaan Partners, Andreessen Horowitz, Sequoia Capital, SV Angel, Khosla Ventures, KPCB, Thrive Capital, Comcast Ventures, FundersClub, Darwin Ventures, GSV Financial Group LLC Groceries - Marketplace - Personal Shopper $275M bigbasket.com BigBasket (2011, Bangalore) Online retail store for grocery shopping Bessemer Venture Partners, IFC, Ascent Capital, Zodius, Helion Venture Partners, Lion Rock Capital, The Abraaj Group, Sands Capital Ventures Groceries - Retailers $242.8M blueapron.com Blue Apron (2012, New York City) Weekly subscription based meal kits delivery First Round Capital, Fidelity Investments, Bessemer Venture Partners, Stripes Group, Graph Ventures, Target Global, Darwin Ventures, BoxGroup Groceries - Recipe Box $193M fruitday.com Fruitday (2009, Shanghai) Online B2C platform for imported fruits Jingdong, SIG's China, ClearVue Partners, SPSP Venture Capital Groceries - Retailers $181.67M grofers.com Grofers (2013, Delhi) On-demand product delivery service from local merchants for customers Sequoia Capital, Tiger Global Management, SoftBank Groceries - Marketplace - Personal Shopper $165M
  32. 32. Food Tech Report, July 201633 Beverages – Business Model Description The beverages sector includes companies for Alcoholic Drinks and Non-alcoholic Drinks. Under Alcoholic drinks, business models such as online retailing, subscription, on-demand delivery etc. are popular. Wine is an important sub-sector in this segment with presence of dedicated companies in wine trading, investment and technology solutions and curated content. Under Non-Alcoholic players, market is focused on coffee, tea and cold-pressed juices. Alcoholic Drinks Non-Alcoholic Drinks Companies providing online retail of alcoholic drinks and supporting technology solutions. Companies that are online retailers, connecting marketplaces, on- demand delivery or technology solutions for non-alcoholic drinks such as tea, coffee, juices, hangover cures etc. Tea Segment – Companies that are online-first Tea Brands. Coffee Segment– 1. Companies that are subscription based coffee (beans) providers. 2. Companies in the market of Cold-brew, single-serve coffee makers and their capsule suppliers, IOT devices etc. 3. Coffee companies under third wave of coffee. Juices – Companies using Cold-pressed or HPP technology to make juices and are online-first retailers. Retailers – Manufacturers and online-first retailers of liquor. Marketplaces – Platforms connecting customers to nearby retailers and provide on-demand delivery of alcohol. Wine Segment – Wine dedicated companies under following segments: Content on Discovery –Information on Wine and support regarding taste preferences, auction price listings etc. Online retailers – Wine brands with vineyards or exclusive partnerships with wine makers. Investment Wine Solutions – Software providing services such as cellar management etc, as well as crowdfunding platforms connecting customers directly to vineyards for preferential prices.
  33. 33. Food Tech Report, July 201634 Beverages – Entrepreneur Activity and Investment Trend $1M $9M $24M $143M $118M $95M $237M $296M 1 5 7 21 24 37 39 46 0 10 20 30 40 50 0 70 140 210 280 350 2008 2009 2010 2011 2012 2013 2014 2015 NumberofRounds FundingAmount(inMillions) YoY – Total Funding and No of Rounds $882M $284M 0 200 400 600 800 1000 Alcoholic Drinks Non-Alcoholic Drinks FundingAmount(inMillions) BM wise Investment 13 9 15 31 37 61 56 57 0 14 28 42 56 70 2008 2009 2010 2011 2012 2013 2014 2015 NumberofCompaniesFounded YoY – No. of Companies Founded 208 42 18 14 12 9 8 7 0 50 100 150 200 250 United States United Kingdom China Canada Australia Italy France Germany NumberofCompanies Distribution of Companies across Countries
  34. 34. Food Tech Report, July 201635 Beverages – Most Funded Companies Company Overview Business Model Funding Amount jiuxian.com Jiuxian (2010, Beijing) Online B2C retailer for Liquor Sequoia Capital, China Minsheng Bank, China Merchants Bank, Shenzhen Oriental Fortune Capital Management, Richland Capital Beverages - Alcoholic Drinks - Online Retailer $310M bluebottlecoffee.com Blue Bottle Coffee (2002, Oakland) Specialty coffee roaster Fidelity Investments, Morgan Stanley, Index Ventures, True Ventures, Google Ventures, Lowercase Capital, Collaborative Fund, Kohlberg Ventures, Canyon Creek Capital, Raptor Group, Tony Hawk, Wavemaker Partners, Tetragon Financial Group Limited Beverages - Non-Alcoholic Drinks - Coffee - Speciality Coffee $120.46M cariboucoffee.com Caribou Coffee (1992, Minneapolis) Specialty coffee retail chain Arcapita, Oak Investment Partners, Northwood Ventures, Catterton Beverages - Non-Alcoholic Drinks - Coffee - Speciality Coffee $75M yijiupi.com Yi jiu pi (2014, Beijing) B2B e-commerce platform for wine Greenwoods Asset Management, Lighthouse Funds, Eastern Bell Venture Capital, Bertelsmann Asia Investment Fund, Source Code Capital Beverages - Alcoholic Drinks - Marketplace $74.7M 9bianli.com Jiubianli (2010, Zhengzhou) Retail and O2O platform for liquor ordering and delivery Legend Capital, Ivy Capital, Macro vision capital Beverages - Alcoholic Drinks - Online Retailer $61M wine9.com Wine9 (2009, Shenzhen) Online retailer of imported wine, beef and sea food China Equity, Cowin Capital, cvca.com.hk Beverages - Alcoholic Drinks - Online Retailer $44.6M lot18.com Lot18 (2010, New York City) Private wine shopping Accel Partners, New Enterprise Associates, FirstMark Capital Beverages - Alcoholic Drinks - Wine - Online Retailer $44.5M yesmywine.com Yesmywine (2008, Shanghai) Online wine retailer (mostly imported) DCM, Chengwei Capital, Mandra Capital Beverages - Alcoholic Drinks - Online Retailer $43M
  35. 35. Food Tech Report, July 201636 Tech for Restaurants – Business Model Description Companies providing technology solutions to restaurants and businesses (mostly SaaS platforms) to enable restaurants work seamlessly. Solutions such as HR management, inventory management, order management, marketing, and loyalty program management etc. Payments Order Management Suites HR-Tech Loyalty Tools that enable optimal order flow management for restaurants Tools that take care of end to end restaurant management and provide solutions for inventory, vendor, procurement management, building web-front, marketing solutions and others. Payments using technology like QR Code/NFC etc and also systems that enable payments using mobile devices at venue Tools that help in managing human resources for restaurant chains such as hiring and staffing. Systems designed for enabling loyalty and reward programs
  36. 36. Food Tech Report, July 201637 Tech for Restaurants – Entrepreneur Activity and Investment Trend $29M $3M $83M $71M $82M $258M $243M $197M 5 7 29 36 40 68 53 48 0 16 32 48 64 80 0 60 120 180 240 300 2008 2009 2010 2011 2012 2013 2014 2015 NumberofRounds FundingAmount(inMillions) YoY – Total Funding and No of Rounds $205M $189M $110M $98M $82M $47M 0 50 100 150 200 250 Payments Order Management Loyalty HR-Tech Marketing Analytics FundingAmount(inMillions) BM wise Investment 5 17 37 41 56 38 42 34 0 12 24 36 48 60 2008 2009 2010 2011 2012 2013 2014 2015 NumberofCompaniesFounded YoY – No. of Companies Founded 192 30 16 15 7 6 6 6 0 50 100 150 200 250 United States United Kingdom India Canada France Australia Brazil Singapore NumberofCompanies Distribution of Companies across Countries
  37. 37. Food Tech Report, July 201638 Tech for Restaurants – Most Funded Companies Company Overview Business Model Funding Amount revelsystems.com Revel Systems (2010, San Francisco) iPad based Point of Sale solution. Rothenberg Ventures, DCM, ROTH Capital, Invest Northern Ireland, Welsh, DreamFunded, wcas.com Tech for Restaurants $127.3M tillster.com Tillster (2006, San Diego) Restaurant Ordering system Allegis Capital Tech for Restaurants - Order Management $85.8M emn8.com EMN8, Inc. (2006, San Diego) Restaurant SaaS provider Steamboat Ventures, Allegis Capital, Fort Washington Investment Advisors, Pinnacle Ventures Tech for Restaurants $85.8M peoplematter.com PeopleMatter (2009, Charleston) SaaS-based HR management solution for Service Industry Morgenthaler, Scale Venture Partners, StarVest Partners, Noro Moseley Partners, Croft & Bender, Harbert Management, Intersouth Partners Tech for Restaurants - HR-Tech $63.4M olo.com Olo (2005, New York City) Online and Mobile Restaurant Ordering Systems PayPal, Founder Collective, RRE Ventures, Core Capital Partners, Staley Capital Management, The Raine Group Tech for Restaurants - Order Management $53.75M tabbedout.com TabbedOut (2009, Austin) Mobile Payment and Marketing for Hospitality New Enterprise Associates, Trellis Partners, Raven Venture Partners, Morgan Creek Capital Management, Heartland Payment Systems, Wellington Management Company, Alterna Capital Partners Tech for Restaurants - Payments - In-App Payments $37.59M orderbird.com Orderbird (2011, Berlin) iPad PoS System for the hospitality industry. Alternative Strategic Investments, Concardis, Concardis, METRO GROUP, dplus.partners Tech for Restaurants - Payments $37.08M newbrandanalytics. com NewBrand (2010, Washington D.C.) Location-specific text analytics software platform for service focused companies New Enterprise Associates, Revolution, Thayer Ventures, Cloud Capital Partners, The Entrepreneurs' Fund Tech for Restaurants - Analytics $35M
  38. 38. Food Tech Report, July 201639 Dine Out – Business Model Description Companies that enrich dine-out experience for customers from restaurant discovery to reservation. A few offer support to restaurants to get online presence, manage orders and bookings, payments, targeted marketing and others. Discovery Platform Table Booking Companies that offer platform to make reservations at bars and restaurants. A few companies differentiate themselves by offering last minute bookings, in–restaurant ordering and payment support. Companies in this segment have online or web platform or both. They help customers to discover restaurants based on crowd source reviews and ratings. A few extend tech support to restaurants.
  39. 39. Food Tech Report, July 201640 Dine Out – Entrepreneur Activity and Investment Trend $22M $16M $2M $38M $88M $103M $116M $232M 6 5 3 28 30 35 23 40 0 9 18 27 36 45 0 50 100 150 200 250 2008 2009 2010 2011 2012 2013 2014 2015 NumberofRounds FundingAmount(inMillions) YoY – Total Funding and No of Rounds $389M $320M 0 90 180 270 360 450 Discovery Platform Table Booking FundingAmount(inMillions) BM wise Investment 6 8 15 44 32 37 50 65 0 14 28 42 56 70 2008 2009 2010 2011 2012 2013 2014 2015 NumberofCompaniesFounded YoY – No. of Companies Founded 95 84 21 10 9 7 6 6 0 20 40 60 80 100 India United States United Kingdom China Singapore Japan Canada Indonesia NumberofCompanies Distribution of Companies across Countries
  40. 40. Food Tech Report, July 201641 Dine Out – Most Funded Companies Company Overview Business Model Funding Amount zomato.com Zomato (2008, Gurgaon) Platform for food discovery and online ordering. Info Edge India, Sequoia Capital, Vy Capital, Temasek Holdings Dine Out - Discovery Platform $223.8M bookatable.co.uk Bookatable (2006, London) Booking platform and marketplace for restaurants Balderton Capital, Wellington Partners Venture Capital Dine Out - Table Booking $62.8M ricebook.com Ricebook (2013, Beijing) Social food discovery app Sequoia Capital, IDG Capital Partners, Ceyuan Ventures, Shenzhen Cornerstone Asset Management Dine Out - Discovery Platform $53.5M opentable.com OpenTable (1998, San Francisco) Online Restaurant Reservation Provider American Express, Zagat, Benchmark, Integral Capital Partners, Draper Richards, Venture Frogs, Impact Venture Partners, Comdisco, Upstart Capital, Orange France Dine Out - Table Booking $48M quandoo.de Quandoo (2012, Berlin) German online restaurant reservation service provider Holtzbrinck Ventures, DN Capital, Atlantic Capital Partners, Holtzbrinck Publishing Group, Piton, Deutscher Innovations Fonds, Cherry Ventures Dine Out - Table Booking $39M trycake.com Cake Corporation (2011, Redwood City) Reservation management system as well as POS for restaurants LaunchCapital Dine Out - Table Booking $32M kzhuo.com.cn Kzhuo (2012, Beijing) Online restaurant recommendation platform Tiantu Capital Dine Out - Discovery Platform $30M likeness.com Ness (2009, Los Altos) Personal search engine American Express, Khosla Ventures, TomorrowVentures, Bullpen Capital, Singtel, Alsop Louie Partners, Singtel Innov8 Dine Out - Discovery Platform $20M
  41. 41. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 2 42
  42. 42. Food Tech Report, July 201643 Interesting Seed Companies Company Overview Business Model Total Funding adored.com Adored (2014, Manchester) Loyalty experience platform Matrix Partners, Boston Seed, Borealis Ventures, Kepha Partners, Blade Tech for Restaurants - Loyalty $2.3M wirkn.com Wirkn (2014, Toronto) Mobile Job Portal Kinetic Companies Tech for Restaurants - HR-Tech $1.6M tablehero.com Tablehero (2014, Bangalore) Self-updating mobile first website for restaurants GrowX Ventures Dine Out - Table Booking $1M dropkaffe.com DropKaffe (2015, Bangalore) Bottled cold coffee and milkshakes GrowthStory Investments, P39 Capital Beverages - Non-Alcoholic Drinks - Coffee - Cold-brew $850k just-eat.com Just Eat (2000, London) Order takeaway online Greylock Partners, Redpoint Ventures, Index Ventures, Axon Partners Group, Vitruvian Partners Food Ordering platforms - Restaurant Aggregators - Ordering Platforms £80.5M brightcellars.com Bright Cellars (2014, Boston) Personalized wine subscription Gener8tor, CSA Partners Beverages - Alcoholic Drinks - Wine - Marketplace - Subscription $2.03M limakilo.id Limakilo (2016, Jakarta) Farm to home marketplace for groceries directly from farmers East Ventures Groceries - Farm to Home favordelivery.com Favor (2013, Austin) On demand delivery app Draper Associates, Silverton Partners, S3 Venture, Corsa Ventures, Draper Associates Food Ordering platforms - Restaurant Aggregators - Delivery $15M Curated list of companies by the sector analyst are defined as Interesting
  43. 43. Food Tech Report, July 201644 Interesting Series A Companies Company Overview Business Model Total Funding waimai.baidu.com Baidu Waimai (2011, Beijing) Online food ordering and delivery platform Hina Group Food Ordering platforms - Restaurant Aggregators - Delivery $310M soylent.me Soylent (2013, Los Angeles) An affordable nutrition drink with all the essential ingredients the healthy body needs Y Combinator, Andreessen Horowitz, Index Ventures, Lerer Hippeau Ventures, Initialized, Lerer Hippeau Ventures Food Substitutes $22.3M velocityapp.com Velocity (2014, London) Payment app for consumers at Restaurants Spark Capital, Initial Capital, crystalstreamcapital, shukrishammas, tomglocer Tech for Restaurants - Payments - In-App Payments $16.25M trycaviar.com Caviar (2012, San Francisco) Online food ordering services from local eateries Andreessen Horowitz, Tiger Global Management, Winklevoss Capital, Ironfire Capital, Mixt Greens Food Ordering platforms - Restaurant Aggregators - Delivery $15M honestbee.com Honestbee (2014, Singapore) Concierge grocery delivery service Formation 8, Pejman Mar Ventures Groceries - Marketplace - Personal Shopper $15M shopwings.de ShopWingsDE (2014, Berlin) Grocery delivery from nearby superstores Tengelmann Ventures, Rocket Internet Groceries $13.68M zopnow.com ZopNow (2011, Bangalore) Online grocery platform with a three-hour delivery promise Accel Partners, Qualcomm Ventures, Times Internet, InnoVen Capital, Realm of the Dragoneers Groceries - Marketplace $12M happyfresh.com HappyFresh (2014, Jakarta) online marketplace for existing grocery retailers Vertex Ventures, 500 Startups, Asia Venture Group, Vertex Ventures, Ardent Capital, Cherry Ventures, Beenext Groceries $12M
  44. 44. Food Tech Report, July 201645 Interesting Series A Companies Company Overview Business Model Total Funding gobble.com Gobble (2010, Palo Alto) Subscription based home-cooked food delivery service Andreessen Horowitz, SV Angel, Founder Collective, Felicis, Trinity Ventures, Thrive Capital, Collaborative Fund, Fenox Venture Capital, Morado Ventures, Vast Ventures, Ingk Labs Groceries - Recipe Box $11.95M sunbasket.com SunBasket (2014, San Francisco) Recipe box with pre measured ingreedients Rembrandt Venture Partners, Correlation Ventures, Baseline Ventures, Relevance Capital, ROTH Capital, Lucas Venture Group, Robertson Stephens, Vulcan Capital, Baseline Ventures Groceries - Recipe Box $11.6M peachd.com Peachd (2013, Seattle) Lunch delivery to front desk Vulcan, Maveron, Madrona, Vulcan Capital Food Ordering platforms - Restaurant Aggregators – Delivery – Office Focused $10.75M jinnapp.com Jinn (2013, London) On-Demand Delivery App for anything Elderstreet Investments, Samaipata Ventures Food Ordering platforms $9.76M mangoplate.com MangoPlate (2013, Seoul) Food discovery app Qualcomm Ventures, SoftBank Ventures Korea, SparkLabs Global Ventures, YJ Capital Dine Out - Discovery Platform $7.2M burpple.com Burpple (2011, Singapore) Social food review platform Neoteny Labs, Bansea, Quest Ventures, Tembusu Partners, Triumph Capital, LLC Private Wealth Management, SPHPlugandPlay Dine Out - Discovery Platform $6.75M drinksoma.com Soma (2012, San Francisco) Innovative sustainable water filters on subscription MESA Ventures, Lerer Hippeau Ventures, Cowboy, Baseline Ventures, Collaborative Fund, Crosscut Ventures, Forerunner Ventures, Vast Ventures, Mindfull Investors, Marc Bell Capital Partners, Lerer Hippeau Ventures, QueensBridge Venture Partners Technology Solutions $5.9M luka.ai Luka (2014, New York City) A.I. based chatting application to recommend & book restaurants tables Y Combinator, Ludlow Ventures, Sherpa Capital Dine Out - Discovery Platform $4.54M
  45. 45. Food Tech Report, July 201646 Interesting Series A Companies Company Overview Business Model Total Funding nimbleschedule.com NimbleSchedule (2010, Carlsbad) Online Employee Scheduling Software Seek, Seed Equity Capital Partners Tech for Restaurants - HR- Tech $4M licious.in Licious (2015, Bangalore) Online meat delivery Mayfield, Tholons Capital Groceries - Retailers $4M eazydiner.com EazyDiner (2014, Delhi) Online portal for restaurant discovery, reviews, deals, table booking and concierge services Saama Capital, DSG Consumer Partners Dine Out - Table Booking $4M incake.net Incake (2012, Shanghai) Online private label premium confectionery brand Shenzhen Capital Group Food Ordering platforms - Restaurant Aggregators - Delivery $3.1M ninjacart.in Ninjacart (2015, Bangalore) Mobile app to connect farmers with retailer Accel Partners, Qualcomm Ventures, M and S Capital Partners Groceries - Marketplace - B2B $3M bizimply.com Bizimply (2011, Dublin) Attendence managment solution 500 Startups, NDRC, Causeway Capital Tech for Restaurants - HR- Tech $2.28M 7shifts.com 7shifts (2011, Regina) Online employee scheduling software Relay Ventures, Boost Tech for Restaurants - HR- Tech $1.2M
  46. 46. Food Tech Report, July 201647 Interesting Series A Companies Company Overview Business Model Total Funding plated.com Plated (2012, New York City) Subscription based recipes & meal kits Lerer Hippeau Ventures, Founder Collective, Greycroft Partners, FF Venture Capital, Eastward Capital Partners, Techstars, Great Oaks Venture Capital, Formation 8, Kite Ventures, Arena Ventures Groceries - Recipe Box $56.4M sprig.com Sprig (2013, San Francisco) Dinner on Demand Accel Partners, Greylock Partners, 500 Startups, Battery Ventures, MHS Capital, S23P, Lumia Capital, Social Capital Food Ordering platforms - Internet First Restaurants $56.38M marleyspoon.com Marley Spoon (2014, Berlin) Recipe and related grocery delivery Kreos Capital, Lakestar, Point Nine Capital, Global Founders Capital, TA Ventures Groceries - Recipe Box $32M bluerivert.com Blue River Tech (2011, Sunnyvale) Computer vision and robotics for agriculure Khosla Ventures, Steve Blank, Innovation Endeavors, Data Collective, Ulu Ventures, ATEL Capital Group, Stanford Angels and Entrepreneurs, pontifax Agtech Technology Solutions - Devices $30.1M etaoshi.com Etaoshi (2011, Beijing) Online food ordering, delivery and reservation provider Highland Capital Partners, Hosen Capital Food Ordering platforms - Restaurant Aggregators - Delivery $30M line0.com Line0 (2012, Nanjing) Food delivery online and via app Sequoia Capital, Gobi Partners, Tencent, Eastern Bell Venture Capital Food Ordering platforms - Restaurant Aggregators - Delivery $30M gousto.co.uk Gousto (2012, London) Recipe kit subscription and grocery delivery Unilever Ventures, MMC Ventures, Business Growth Fund, Angel CoFund Groceries - Recipe Box $25M freshmenu.com FreshMenu (2014, Bangalore) Home delivery of fresh meals for lunch and dinner Lightspeed Venture Partners, Zodius Food Ordering platforms - Internet First Restaurants $21.5M
  47. 47. Food Tech Report, July 201648 Interesting Series B Companies Company Overview Business Model Total Funding runnr.in Runnr (2015, Bangalore) On-demand food delivery and B2B platform for on-demand local delivery Blume Ventures, Nexus Venture Partners, Sequoia Capital Food Ordering platforms - Restaurant Aggregators - Delivery $21M planday.com Planday (2004, Copenhagen) SaaS Workforce Scheduling & HR Creandum, Idinvest Partners, markedsmodningsfonden Tech for Restaurants - HR-Tech $17.75M takeeateasy.be Take Eat Easy (2013, Brussels) On demand delivery from restaurants DN Capital, Piton Capital, Rocket Internet, Eight Roads Ventures Food Ordering platforms - Restaurant Aggregators - Delivery $17.62M myeatclub.com EAT Club (2010, Palo Alto) Office Catering Service First Round Capital, Lightspeed Venture Partners, Trinity Ventures, LaunchCapital, August Capital, Tekton Ventures, Great Oaks Venture Capital, Siemer Ventures, Wavemaker Partners Food Ordering platforms - Restaurant Aggregators - Delivery - Office Focused $16.5M rotimatic.com Rotimatic (2008, Singapore) Rotimatic, a robotic roti-parata maker Robert Bosch Venture Capital, SPRING Singapore, Distinguished Gentlemen Group, NSI Ventures, enterprise.nus.edu.sg Technology Solutions - Devices $16M reserve.com Reserve (2014, New York City) Online restaurant reservations First Round Capital, SV Angel, Expa, Google Ventures, Hunter Walk, Lowercase Capital, Venture 51, Advancit Capital, Vast Ventures, Homebrew, Plus Capital, Visionnaire Ventures, Caerus Ventures, Sherpa Capital, Human Ventures, BoxGroup, Arena Ventures Dine Out - Table Booking $15M wolt.com Wolt (2014, Helsinki) Food ordering and delivery service. Inventure, Lifeline Ventures, EQT Ventures Food Ordering platforms - Restaurant Aggregators - Delivery $13.65M
  48. 48. Food Tech Report, July 201649 Interesting Late Stage Companies Company Overview Business Model Total Funding ele.me Ele.me (2008, Shanghai) Online ordering and delivery of food from restaurants with its own logistics network Alibaba, Sequoia Capital, Jingdong, Dianping, Matrix Partners, GSR Ventures, Tencent, Beijing Hualian Group, CITIC Capital, Didi Chuxing, China Media Capital, Gopher Asset Management Food Ordering platforms - Restaurant Aggregators - Delivery $2.34B deliveryhero.com Delivery Hero (2010, Berlin) Online food ordering service Insight Venture Partners, General Atlantic, Lead Edge Capital, Kreos Capital, Point Nine Capital, Holtzbrinck Ventures, ruNet, Phenomen Ventures, Hasso Plattner Ventures, Tengelmann Ventures, Kite Ventures, Team Europe, Point Nine, Target Global, Rocket Internet, WestTech Ventures, luxorcap.com, Vostok New Ventures Food Ordering platforms - Restaurant Aggregators - Ordering Platforms $1.13B womai.com Womai (2008, Beijing) Online B2C grocery retailer focused on selling imported products SAIF Partners, SAIF Partners China, Baidu, IDG Capital Partners, Taikang Groceries $330M jiuxian.com Jiuxian (2010, Beijing) Online B2C retailer for Liquor Sequoia Capital, China Minsheng Bank, China Merchants Bank, Shenzhen Oriental Fortune Capital Management, Richland Capital Beverages - Alcoholic Drinks - Online Retailer $310M hellofresh.com HelloFresh (2012, Berlin) Meal recipe kit subscription service Insight Venture Partners, Holtzbrinck Ventures, Phenomen Ventures, Rocket Internet, Investment AB Kinnevik, Vorwerk Direct Selling Ventures, Baillie Gifford, Nova Founders Capital, Rocket Internet Groceries - Recipe Box $278.5M instacart.com Instacart (2012, San Francisco) Marketplace for same-day grocery delivery Y Combinator, Canaan Partners, Andreessen Horowitz, Sequoia Capital, SV Angel, Khosla Ventures, KPCB, Thrive Capital, Comcast Ventures, FundersClub, Darwin Ventures, GSV Financial Group LLC Groceries - Marketplace - Personal Shopper $275M bigbasket.com BigBasket (2011, Bangalore) Online retail store for grocery shopping Bessemer Venture Partners, IFC, Ascent Capital, Zodius, Helion Venture Partners, Lion Rock Capital, The Abraaj Group, Sands Capital Ventures Groceries - Retailers $242.8M zomato.com Zomato (2008, Gurgaon) Platform for food discovery and online ordering. Info Edge India, Sequoia Capital, Vy Capital, Temasek Holdings Dine Out - Discovery Platform $223.8M
  49. 49. Food Tech Report, July 201650 Interesting Late Stage Companies Company Overview Business Model Total Funding deliveroo.co.uk Deliveroo (2012, London) Restaurant Food Delivery Application Accel Partners, Index Ventures, DST Global, Hummingbird Ventures, Greenoaks Capital, Hoxton Ventures, JamJar Investments Food Ordering platforms - Restaurant Aggregators - Delivery $199.6M blueapron.com Blue Apron (2012, New York City) Weekly subscription based meal kits delivery First Round Capital, Fidelity Investments, Bessemer Venture Partners, Stripes Group, Graph Ventures, Target Global, Darwin Ventures, BoxGroup Groceries - Recipe Box $193M doordash.com DoorDash (2013, Palo Alto) On-Demand Food Delivery, exploring beyond food Twitter, Y Combinator, Sequoia Capital, SV Angel, Khosla Ventures, Charles River Ventures, KPCB, Wellcome Trust, Pejman Mar Ventures, Streamlined Ventures, NFX Guild Food Ordering platforms - Restaurant Aggregators - Delivery $186.7M fruitday.com Fruitday (2009, Shanghai) Online B2C platform for imported fruits Jingdong, SIG's China, ClearVue Partners, SPSP Venture Capital Groceries - Retailers $181.67M grofers.com Grofers (2013, Delhi) On-demand product delivery service from local merchants for customers Sequoia Capital, Tiger Global Management, SoftBank Groceries - Marketplace - Personal Shopper $165M benlai.com Benlai (2012, Beijing) Online platform to order premium groceries CDH Investments, China Equity, Integral Group, Joyoung, Banyan Capital Groceries $157M grubhub.com GrubHub (2004, Chicago) Online and mobile food ordering platform Lightspeed Venture Partners, Benchmark, DAG Ventures, T. Rowe Price, Stripes Group, Spectrum Equity, Greenspring Associates, SeventySix Capital, Origin Ventures, Amicus Capital, Leo Capital Holdings, Mesirow Financial, Binary Capital Food Ordering platforms - Restaurant Aggregators - Delivery $135.1M revelsystems.com Revel Systems (2010, San Francisco) iPad based Point of Sale solution. Rothenberg Ventures, DCM, ROTH Capital, Invest Northern Ireland, Welsh, DreamFunded, wcas.com Tech for Restaurants $127.3M
  50. 50. Food Tech Report, July 201651 Interesting Late Stage Companies Company Overview Business Model Total Funding munchery.com Munchery (2011, San Francisco) Gourmet Meal Delivery Service Greycroft Partners, Menlo Ventures, 137 Ventures, e.ventures, Northgate, Infinity Ventures, Anthos Capital, Darwin Ventures, Sherpa Capital, Cota Capital Food Ordering platforms - Internet First Restaurants $117.21M tastemade.com Tastemade (2012, Santa Monica) YouTube Multi Channel Food Network. Redpoint Ventures, Goldman Sachs, Comcast Ventures, The Raine Group, Liberty Media, Scripps Networks Interactive, Tohokushinsha Film Corp. Content $80.3M yijiupi.com Yi jiu pi (2014, Beijing) B2B e-commerce platform for wine Greenwoods Asset Management, Lighthouse Funds, Eastern Bell Venture Capital, Bertelsmann Asia Investment Fund, Source Code Capital Beverages - Alcoholic Drinks - Marketplace $74.7M 3songshu.com Three Squirrels (2012, Wuhu) Online-first private label nuts and other gourmet food brand IDG Capital Partners, Capital Today Group, Frees Fund Groceries - Farm to Business $74.17M daojia.com.cn Daojia (2010, Shanghai) Online food ordering and delivery Jingdong, Morningside Ventures, Northern Light Venture Capital Food Ordering platforms - Restaurant Aggregators - Delivery $67M peoplematter.com PeopleMatter (2009, Charleston) SaaS-based HR management solution for Service Industry Morgenthaler, Scale Venture Partners, StarVest Partners, Noro Moseley Partners, Croft & Bender, Harbert Management, Intersouth Partners Tech for Restaurants - HR- Tech $63.4M bookatable.co.uk Bookatable (2006, London) Booking platform and marketplace for restaurants Balderton Capital, Wellington Partners Venture Capital Dine Out - Table Booking $62.8M swiggy.com Swiggy (2014, Bangalore) Online platform that delivers food from restaurants Accel Partners, SAIF Partners, Norwest Venture Partners, DST Global, Harmony Partners, RB Investments Food Ordering platforms - Restaurant Aggregators - Delivery $60.5M
  51. 51. Food Tech Report, July 201652 Top Funded Deadpooled Companies Company Overview Business Model Funding Amount webvan.com Webvan (1996, Foster City) Internet grocery retailer Goldman Sachs, Sequoia Capital, SoftBank, Sequel Venture Partners Groceries - Marketplace $375M emn8.com EMN8, Inc. (2006, San Diego) Restaurant SaaS provider Steamboat Ventures, Allegis Capital, Fort Washington Investment Advisors, Pinnacle Ventures Tech for Restaurants $85.8M peppertap.com PepperTap (2014, Gurgaon) Closed Marketplace for hyperlocal grocery delivery Snapdeal, SAIF Partners, Sequoia Capital, jafcoasia, ruNet, InnoVen Capital, Beenext Groceries - Marketplace $51.2M alice.com Alice (2008, Madison) Online retail platform for fresh gourmet coffee Danevest Capital, Kegonsa Capital Partners Groceries - Marketplace $24.29M exit41.com Exit41 (1999, Boston) Social ordering solutions for restaurant Fidelity Investments, Contour Venture Partners, GrandBanks Capital, Thomas Weisel Venture Partners, Dace Ventures Tech for Restaurants $21.8M likeness.com Ness (2009, Los Altos) Personal search engine American Express, Khosla Ventures, TomorrowVentures, Bullpen Capital, Singtel, Alsop Louie Partners, Singtel Innov8 Dine Out - Discovery Platform $20M kitchensurfing.com Kitchensurfing (2012, Brooklyn) Global marketplace for Private chefs SV Angel, Founder Collective, Union Square Ventures, Spark Capital, BoxGroup Chef Marketplace - Chef-at-Home $19.47M lemon.com Lemon (2011, Palo Alto) Smartphone Wallet Lightspeed Venture Partners, Balderton Capital, DFJ, Maveron, CampVentures, Social Capital Tech for Restaurants - Payments - In-App Payments $18M
  52. 52. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 3 53
  53. 53. Food Tech Report, July 201654 Useful Links Slide Title Content Platform Link List of All Companies in readable format Companies Link Upcoming Sectors Entrepreneur Activity Link Top investments in last one year Investment Trend Link Top IPOs in last three years Exit Outlook - IPO, Acquisitions Link Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link Dine Out– Most Funded Companies Sub Sector Understand Link Food Ordering Platforms– Most Funded companies Sub Sector Understand Link Beverages– Most Funded Companies Sub Sector Understand Link Groceries– Most Funded Companies Sub Sector Understand Link Tech for Restaurants – Most Funded companies Sub Sector Understand Link Top Funded Deadpooled Companies Companies Link
  54. 54. Food Tech Report, July 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 5 55
  55. 55. Food Tech Report, July 201656 Food Tech – Company List COVERS THE FOLLOWING SECTORS Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others
  56. 56. Food Tech Report, July 201657 Dine Out (1/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Zomato [Gurgaon, 2008]: Zomato is an online and mobile restaurant discovery service, listing over a million restaurants across 22 countries including India, UAE, UK, South Africa, Qatar, Sri Lanka, Turkey, Brazil, Indonesia, New Zealand, Philippines. Reported to be setting aside USD 50M to launch online food ordering in India and eventually overseas, starting with 2000 restaurants. Charges commissions between 7.5% to 15% from restaurants based on ratings. Zomato has forayed into print as well, launching the Citibank Zomato Restaurant Guide in 2012, and The Connoisseur’s Guide to Eating Out in 2013. Acquired companies include Menumania (New Zealand, Jul 2014), Lunchtime.cz (Czech Republic, Aug 2014), Obedovat.sk (Slovakia, Aug 2014), Gastronauci (Poland, Sep 2014), Cibando (Italy, Dec 2014), Mekanist (Turkey, 2015), UrbanSpoon (USA, Jan 2015 for a reported $52M) and NexTable (USA, April 2015) as part of its international expansion plans. Launched in Toronto in Oct 2014, with a $10M investment into their operations in Canada. Registered an operating revenue of INR 30.6 crore ($5M) during FY 2013-2014 with local ads business contributing around 75% of the revenue. Acquired cloud based restaurants POS product MaplePOS in April 2015 as a part of its B2B push and integrated it to 'Zomato Base', Zomato's Android-based POS system. Launched its operations in food ordering and delivery through its Zomato Order app. Made strategic investments in Pickingo and Grab for Zomato Order. Planning to expand its presence in delivery to other metropolitan cities. Integrated with Paytm for Zomato Order. Launched a whitelabel platform to help restaurants create their own apps with customization features, integration with Zomato order and analytics support. Launched table reservation service called Zomato book. Users can make, modify and cancel bookings at any time of the day. Over 500 establishments across 21 cities globally are using the table management and booking systems as of Jan, 2016. Claims to have received over 2.5M bookings since the release of the feature. $223.8M Info Edge India, Sequoia Capital, Vy Capital, Temasek Holdings Ricebook [Beijing, 2013]: Ricebook is a social food app that helps users take good photos of food and then share them with friends over social networks like Sina Weibo. Ultimately, users can accumulate a record of the eateries they and their friends like and dislike. IDG ventures, Sequoia and Ceyuan are the investors in Ricebook $53.5M Sequoia Capital, IDG Capital Partners, Ceyuan Ventures, Shenzhen Cornerstone Asset Management
  57. 57. Food Tech Report, July 201658 Dine Out (2/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Kzhuo [Beijing, 2012]: Kzhuo is an online platform which provides restaurant recommendation, food coupons and special services for white-collar lunch market. It provides restaurant recommendations using LBS (Location Based Services). Restaurant owners can also register on the platform and provide food coupons to customers. Is currently operational in Beijing, Shenzhen and other three tier cities. Has raised $30 million in series A round of funding from Tiantu Capital in 2015. $30M Tiantu Capital Ness [Los Altos, 2009]: Ness offered a personal search engine. It offered a technology platform "Likeness Engine", a combination of a recommendation engine and a traditional search engine. The company offered Ness Dining App for restaurants. Based on a user's ratings and preferences, the platform delivered recommendations for a particular time, location, price range, and cuisine preference. It was acquired by Opentable in Feb, 2014. $20M American Express, Khosla Ventures, TomorrowVentures, Bullpen Capital, Singtel, Alsop Louie Partners, Singtel Innov8 MangoPlate [Seoul, 2013]: MangoPlate is your go-to app for discovering the best restaurants in South Korea. Available in English and Korean, MangoPlate is a restaurant recommendation service that helps you resolve your daily problem of where to go eat by connecting you with trustworthy reviews as well as the best restaurants in South Korea. $7.2M Qualcomm Ventures, SoftBank Ventures Korea, SparkLabs Global Ventures, YJ Capital Burpple [Singapore, 2011]: Founded in Singapore, Burpple is a food-review platform that allows users to share photos, opinions and experiences of food using their smartphones as well as web. The platform is focusing on community and curated list of food items. It crowdsources hyper-local knowledge about local foods, and uncovers places with high visitation intent and those loved by the local community. The company has hand- picked some of its users as ‘tastemakers’ for each city and recommends people follow them for a sort of personal guide to the best places to eat and drink in Singapore. Globally, Burpple claims to have 150,000 listed locations in 10 major cities and claims to have 200,000 monthly active users in Singapore (Jun'14). $6.75M Neoteny Labs, Bansea, Quest Ventures, Tembusu Partners, Triumph Capital, LLC Private Wealth Management, SPHPlugandPlay
  58. 58. Food Tech Report, July 201659 Dine Out (3/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Chefs Feed [San Francisco, 2011]: Chefs Feed is a provider of unique and credible food-related recommendations and content. The only people who can recommend a dish on the platform are the 600 professional chefs that make up the Chefs Feed roster of curators. A participating chef can recommend and upload a photo of any dish, as long as it’s not one of their own. The resulting unique and dynamic content is being monetized across a range of media distribution platforms including mobile/web, tv/video, and events. $6M Subtraction Capital, Structure Capital, ARTIS Ventures, Haas Portman LocalEats [Nashville, 2008]: LocalEats (formerly Magellan Press) offers curated search results for local eateries.s. The app has a handy Nearby Search button on its launch screen to help find top-rated places to eat in a nearby radius. A directory of states and cities and an ability to save favorites also makes LocalEats a good download for frequent travellers. $5M Luka [New York City, 2014]: Luka, a social concierge that gets local recommendations, launched its beta version in 2014. IO provides with digital menu card of restaurants, pictures of dishes. Raised series A in April 2016 with adding additional bots to the platform. Started from Moscow, Russia, Soon team moved to NYC. Raised $4.4M in Series A in April, 2014 and released AI-powered chat bots. $4.54M Y Combinator, Ludlow Ventures, Sherpa Capital Retty [Tokyo, 2011]: Retty is a social gourmet site where user can share the restaurants they have been to or want to go to with your friends. The iPhone and Android apps are coming soon. $4.4M ITOCHU Technology Ventures, Mitsubishi UFJ Capital, Cyberagent Ventures, Gree Ventures, Mizuho Capital, Eight Roads Ventures Foodspotting [San Francisco, 2009]: Foodspotting is an app for finding and rating restaurant dishes. With this visual guide to good food and where to find it, users can find the dish they want and see what’s good at any restaurantFoodspotting was acquired by OpenTable in 2013 for $10M. $3.75M 500 Startups, Felicis, BlueRun Ventures, Zelkova Ventures, High Line Venture Partners, 2020 Ventures
  59. 59. Food Tech Report, July 201660 Dine Out (4/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Salir.com [2007]: Salir.com is the entertainment platform that provides information, photographs, and opinions over restaurants, billboard, cafeterias, pubs, museums, specialized stores, theaters, concerts, shows, and sports events. €2.4M Bonsai Venture Capital, Grupo Intercom, corporaccioncan.com Chengmi [Beijing, 2013]: Chengmi is a restaurant recommendation app. Has its presence in Beijing, Shanghai, Canton, Shenzhen and Hongkong cities. Has over 1 million users on the platform. Raised $2.3M from Tencent. $2.3M Tencent Burrp [Mumbai, 2006]: Burrp is an online platform for Indian food discovery. It provides local food and restaurant review and recommendation. They were present in 14 cities in the country. Features: search within more than 50,000 restaurants and view menus, contact information, addresses and locations, ratings, reviews, photographs and short precise tips. Burrp got acquired by Web18 Pvt. Ltd - A Network 18 Group Company in 2009 . $2.15M Infomedia18 AiMeiWei [Shanghai, 2011]: AiMeiWei is a mobile platform that enables users to upload and edit their food pictures, as well as share and view restaurant reviews. Users can login with either Sina Weibo or QQ accounts. Aimeiwei will recommend dishes to users according to their geographical proximity and the popularity degree of dishes. Users can save favorite dishes to their “itineraries” before hand and the app will push alerts to users when they are within 500 meters of the restaurant. $2M Gobi Partners Laiyaoyao [Beijing, 2011]: Iron Chef shakes is a restaurant recommendation app. Was one of the top 20 Food application of app store in Free class list. It is the very first personalized restaurant recommendation application in China. As of Feb 2016 the website is not working. $2M Sequoia Capital, Morningside Ventures
  60. 60. Food Tech Report, July 201661 Dine Out (5/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Zodio [Bangkok, 2011]: Based in Thailand, Zodio is a local search and discovery platform similar to Yelp. Users can post their reviews and rate the places. While discovering, users can see the overall ratings and the ratings done by their friends. $1.6M Sparx Ventures CityHawk [London, 2012]: CityHawk is a restaurant app that enables diners to instantly discover and book tables at local restaurants. Database of over 800 restaurants. Delivers a curated shortlist of most relevant restaurants through a combination of user preferences and booking history, as well as reviews from other diners. Provides a selection of London restaurants with available tables. Restaurenteurs can add allocations on the platform with has features to turn listings on and off, check bookings, give promotions and advertisments and more. $1.6M AIRGRUB [Millbrae, 2015]: AirGrub is an App that allows air travelers to preorder their food from their phone and pick up their freshly made meal at the airport, without waiting in line. $1.5M Streamlined Ventures Hak Cipta dipegang oleh Abratable PTE LTD [Jakarta, 2012]: Abraresto is an online restaurant and eatery discovery source through which users can get an insight about the place and also rate and give feedback. Also, users can share their views with online communities and write blogs. Users can also follow popular critics and get their views on food related issues. $1.5M iPeen [Taipei]: iPeen is a user generated restaurant review websites in Taiwan. As of 2011, the website had more than 85,000 restaurants listed on its website and up to 200,000 visitors each day. $1M Cyberagent Ventures
  61. 61. Food Tech Report, July 201662 Dine Out (6/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors TrustedPlaces [London, 2006]: TrustedPlaces is a social network focused on local reviews, where people share opinions on their favourite places and discover new ones through other people’s recommendations. The company is based in London, UK with a development office in Tel Aviv, Israel. The majority of the content is focused on lifestyle and entertainment locations, such as restaurants, bars, pubs, clubs. There are currently reviews for 45 countries across the world with the bulk of them in the UK and London in particular. TrustedPlaces provides an API for content syndication and also supports Clickpass and Facebook for registration. $1M HOWZAT media WineDemon [Norwich, 2011]: WineDemon allows it’s users to share wines with their friends, and get recommendations for which wines to purchase in restaurants, bars, supermarkets and online. £500k BlockBeacon [Santa Monica, 2012]: BlockBeacon connects local businesses and local consumers when their needs and wants match in real-time Using a map-centric website (www.blockbeacon.com) and mobile application (iOS, Android coming soon), BlockBeacon gives locals a live view of everything nearby businesses have to offer, from limited-time inventory, to a new happy hour special, to a one-time event. It’s a real-time experience, and the content is continuously updated 24/7, so nothing is stale, and the map is different every single day. Focused on the singular mission to help merchants answer the question, “Why should a local customer stop by your store right now?”, BlockBeacon provides a dead-simple interface to update the map with the latest promotions. It’s as easy as typing a tweet, although merchants can expect to reach a much larger audience, and importantly an audience of potential customers that were not (necessarily) already a customer or fan. BlockBeacon is currently focused on the Food & Drink vertical, helping locals find amazing lunch specials, happy hours and future date-night venues throughout the state of California. More verticals and more cities coming very soon. BlockBeacon is proudly based in the heart of Silicon Beach at 5th and Santa Monica Blvd. $500k Resolute Ventures
  62. 62. Food Tech Report, July 201663 Dine Out (7/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors EveningFlavors [Bangalore, 2009]: EveningFlavors offers an online portal for restaurant discovery and information, table booking and party planning services. Also provides information about different events, parties and offers being provided by different restaurants. Currently catering to Bangalore, Mumbai, Pune, Delhi, Kolkata, Hyderabad, Jaipur. Offers database of 20K+ restaurants. raised a $500k round of funding from independent angel investor Sandiep Shrivatsava for expansion across India. currently makes reservations for over 1,000 customers in a day and plans to expand into Tier-2 cities like Indore, Goa and Surat in the upcoming phase. The company reports annual revenues of over INR 1.5 crores from commissions made from bookings and reservations as of May 2015. Owned by WebAffinity Technologies Pvt Ltd $500K Hoppit [New York City, 2011]: Hoppit is the ambience search engine for restaurants. Hoppit is an award- winning local search engine that finds restaurants and bars by atmosphere. The product uses Natural Language Processing and its proprietary database of high-resolution, location-based photos to power its suggestions. Available on iPhone, Android, and web. It also provides APIs to developers which gives them access to their repository of restaurant photography and vibe data. $500k Digital Food Talk Pvt Ltd [Gurgaon, 2013]: Food Talk India is an invite-only food community. It is a platform where people share their culinary adventures, post reviews and discover restaurants in real-time. Conducts events for promotion of food brands. Launched a hyper-local dish discovery mobile app Food Talk Plus. Started as an invite-only community on Facebook, claims to have over 50,000 members and an online audience of 400,000 on all major media platforms, such as Facebook, Instagram, Twitter and Viber (Aug 2015). Recently signed a deal with Star World and Star World HD as the exclusive digital partner for the MasterChef Australia season 7 series in India. Raised $500,000 (Rs 3.3 crore) from an unnamed private investor. $500k takokat [Pasadena, 2011]: Takokat is a search engine that enables users to search and locate nearby restaurants by cuisine. Restaurant owners manage their information on the platform and keep it up to date. It provides menu items, images & reviews and organizes the information into ‘image’ search results. As of February 18, 2016, Takokat is deadpooled. $350k
  63. 63. Food Tech Report, July 201664 Dine Out (8/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors FoodFan [New York City, 2011]: FoodFan curates restaurant listings, menus, photos, ratings and reviews from users and trusted critics. Users can also order takeout or delivery, make a reservation through OpenTable, and share favorite restaurants and dishes with your friends. $250k Jybe [Redwood City, 2011]: Jybe is social recommendation startup focused on food and entertainment industry. Jybe is an iOS app personalized recommendations for user to search, browse, recommend, explain about dining places. It has been acquired by Yahoo in March,2013 $250k dish.fm [San Francisco, 2011]: Dish.fm is an online platform for restaurant dish discovery and provides recommendations by analyzing food reviews on the web. Their technology counts citations of dishes in already existing reviews (on Yelp, Foursquare and Tripadviser), adds pictures of each dish and is able to recommend what’s best to order in any restaurant. As of February 2016, company is deadpooled. $150k Farminers MondeCafes [Fontenay-sous-Bois, 2009]: MondeCafes is an online platform which provide information about restaurants, bars, cafes and nightclubs etc. Users can search cuisine, vote, comment and share the info. Their database is completely user generated. 250,000+ restaurants, bars, cinemas, nightclubs, theaters etc, covers New York, Paris, Montreal, Sydney, London, Barcelona, ​​Mumbai, San Francisco, Vancouver and 60 cities and have 300,000 visitors/month. MondeCafes has been closed. €100k ClubJumpr.com [Mill Valley, 2008]: ClubJumpr is a social metrics app and website that ranks the most popular bars and clubs in real time by venue type, neighborhood, age and gender. As of February 2016, clubjumper is deadpooled. $120k
  64. 64. Food Tech Report, July 201665 Dine Out (9/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Springster [London, 2011]: MenuSpring enables users to review, rate, and share pictures and restaurant discoveries with their friends on Facebook and Twitter. As of 2015, they have more than 800,000 dishes from over 8,500 restaurants across London. £60.4k Myfab5 [Ann Arbor, 2012]: MyFab5 is a restaurant discovery platform. Users rank their top restaurants. The company only shows the top 5 restaurants as ranked by members in each category of cuisines. Monetizes by providing customers data about customers and other competitors. Received initial funding via grants from an incubator program - TechTown Detroit, alma mater, and the Michigan state government. $67.5k Detroit Innovate Menuspring [London, 2011]: Eet is a marketplace for restaurants where users can search for restaurants, dishes etc, find availability and book table. Also provides user reviews and food critic reviews through its food social network. Provides a platform to manage and edit online content on multiple channels and track customer preferences, popular dishes among critics and customers. Fixed pricing of 2 pounds per table booking. Also provides API to publishers for reviews and menus. $60K Hundo [Seattle, 2012]: Hundo (formerly Greentape) makes personalized recommendations on food, movies, and products by taste matching. Also provide support to restaurants. $50k Betaspring Traffic [San Francisco, 2012]: Traffic is a mobile app that lets users share restaurant reviews. Users can discover restaurants in a map-based UI. Users can read and write reviews on restaurants. $50k
  65. 65. Food Tech Report, July 201666 Dine Out (10/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors YoBelly [Plano, 2013]: YoBelly for customers is a discovery platform for restaurants and dishes, based on users’ food preferences and recommendations from people similar to themselves. For restaurants - it is a free way to market their establishment and product offerings to customers. Other fee-based services include consumer relations management, menu management and reservations. Advertisers can use the platform to get products and services in front of consumers at the very point they are making buying decisions. $50k paonde [Santiago]: paOnde is mobile platform to look for places to eat and drink. As of Mar 2016, the company has no website or any other online presence. $40k Start-Up Chile AlikeApp [Bellevue, 2010]: The Alike is a location based iPhone app that lets consumers discover about nearby restaurants, bars, and cafes. Users just enter the name of their favorite spot, and it’ll suggest other like it in the user's proximity. The app ranks recommendations based on how “alike” they are to the user's search queries. It also allows users to know the distance of the spot suggested and write review about it. $25K SocialStarts, Social Starts Nommunity [Dallas, 2011]: Nommunity is a web/mobile solutions that help users locate restaurants based on dietary need/preference and location. $25k Tech Wildcatters What's On Foodie [London, 2010]: What’s On Foodie is a discovery platform for food, drinks and related events. Services in UK, USA, Canada, Europe, Oceania, Asia Middle East Africa. Website not availabe as of may 2016. $20k
  66. 66. Food Tech Report, July 201667 Dine Out (11/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Virtual Restaurants [Liverpool, 2011]: VirtualRestaurants.co.uk is a web directory for restaurants that offers a unique perspective: a 360 virtual interactive tour. When consumers are looking for a place to have a special event they can just go to virtualrestaurants.co.uk, search for a venue by city and/or cuisine. After this they can “step inside” and see how it looks like. Each restaurant receives login to their admin panel where they can monitor the number of visitors, visits and banner clicks in total and per day for the last month. $18.5k Lozi.vn [Ho Chi Minh City, 2014]: Vietnam based Lozi.vn is a social discovery platform for restaurants that allows users to find dining places based on ratings and reviews by their peers. The app lets users upload photos of the dishes and restaurants they want to share online, along with their reviews of the food, as well as details like addresses and prices. Other users can use such reviews to decide a suitable restaurant for them. Lozi claims to have more than 8.4 million users and more than 250,000 reviewed places for the app available on both iOS and Android (as of Dec'15). $10k Golden Gate Ventures, designone.jp, siliconvalley.com.vn FoodAdvisor.my [Kuala Lumpur, 2014]: Based in Malaysia, Food Advisor is a food discovery application. It provides users with suggestions of dishes at a particular place. It allows user to search through dish name as keyword and location . It provides suggestions ranked as per the website through its research. It provides content on each of these dishes at famous food places. Und 500 Startups DyshApp [Santa Monica, 2014]: DyshApp merges user-generated content and technology to create a conversation around the food. Users are encouraged to post photos of meals and to help users decide what to order by rating dishes on a 100-point scale. As of May 2016, available for iOS (Android in beta). Und Chaotic Investments, BAM Ventures Tasteful [Palo Alto, 2014]: Tasteful helps its customers discover healthy dishes and restaurants in the service location. Differentiates by focusing on diners with dietary preferences and restrictions. Platform filters out the noise surrounding the restaurants listings and provides segmentation of the same based on dietary needs like vegan, Kosher, Halal, allergic to nuts or gluten free. Formerly known as Almond Systems. $9M Charles River Ventures, Matrix Partners
  67. 67. Food Tech Report, July 201668 Dine Out (12/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Karavan Lists [New York City, 2015]: Karavan Lists is a mobile app that helps user discover the best food, services and experiences around them through simple lists upvoted and curated by the community. Dorm Room Fund, Dreamit Ventures Grub [Delhi, 2015]: Grub is an upcoming mobile app to discover dishes within an area. Claims to provide curated content of dishes from restaurants based on crowdsourced reviews. Each dish would have a popularity/like count. Mobile app yet to be launched as of September, 2015. FasterCapital Restaurant-Kritik [Hamburg, ]: A restaurant review service. As of Oct 2014, claims to have over 330,000 reviews of more than 94,000 restaurants across Germany. Holtzbrinck Ventures Drinkasaur [Mumbai, 2014]: Drinkasaur provides verified listings of pubs across various cities. Also lists stores and professionals including bartenders, party organizers, cab drivers, etc. Currently in beta. IndusAge Partners grabbd deals [London, 2010]: Grabbd is a social app where users can create their go-to list of restaurants, café’s and bars, tag the places and keep them organised and share with friends. Jabbar
  68. 68. Food Tech Report, July 201669 Dine Out (13/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors bubblo [London, 2014]: Bubblo is an Android and IOS app that provides users with real-time information about venues and recommends best nearby Pubs, Restaurants and Bars. It recommends top 5 local venues based on preferences and check-ins/reviews from Facebook, Foursquare, Instagram, Google, and Twitter. Users can set preferences on type of venue, price, gender ratio, and deal filters. Bubblo also provides 10 second videos and photos uploaded from the venue. Venues are recommended based historical data of the venue to compare its peaks over time. Bubblo also tracks and shows friends who are at the venue and those have visited the venue. Venue contact information, reviews and Twitter mentions are also available on the venue profile page. Currently operational in London. Has over 80,000 venues on the platform. Jenson Seed EIS Dishero [San Francisco, 2013]: Dishero offers a wide range of services to the restaurant industry, including a centralized visual menu platform that enables the restaurants to present their menu in appetizing way. Customers can browse for cuisines and find nearest restuarant where they are available along with pricing. K9 Ventures RoundMenu [ , 2010]: RoundMenu is a restaurant discovery and table booking platform in Dubai. The website provides with reviews, contacts, reservations and delivery menus. Middle East Venture Partners, BECO Capital Gaultmillau [Courbevoie, 1972]: Gault&Millau is a media service in Europe for restaurant and wine ranking, with more than 10,000 restaurants and 15,000 wines tested each year across 14 countries in Europe and Australia. These reviews are made available through their website, mobile app and subscription based magazines and guides. Otiumcapital.com
  69. 69. Food Tech Report, July 201670 Dine Out (14/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Cibando [Rome, 2011]: Cibando is an iPhone application that makes it easy to find Rome, Milan, Florence and other cities in Italy. claims to be the most restaurant downloaded discovery app in Italy. Point Nine Capital Wongnai [Bangkok, 2010]: Based in Thailand, Wongnai is an online restaurant discovery and review platform. It claims itself to be 'Yelp' of Thailand. Users can review a restaurant share pictures of restaurants etc. Other users can browse through the restaurants through a map based search. Recruit Strategic Partners, InVent Quchy [Tokyo, 2013]: Quchy is an online platform that enables users to save, organize and recommend their favorite restaurants and shops with friends. Samurai Incubate Flavour [New York City, 2014]: Flavour is an application that enables users to discover restaurants in New York, San Francisco, and Chicago. It connects with chefs, local experts, and notable publications to provide a curated reviews. Also enables in-app booking through OpenTable. A subsidiary of TDT Media Inc. The Flavour app is available exclusively on the iPhone and is free to download and to use. Scripps Networks Interactive, Aspect Ventures Greenease [Washington, 2014]: This mobile app connects consumers with restaurants, cafes and grocers that buy from local and/or sustainable farms. Users can search for restaurants based on terms like sustainable seafood, gluten-free, veg-friendly, and drug-free. Greenease does not charge restaurants to be listed. According to their website, Greenease partners with a number of B2B businesses that connect chefs and farmers. SOSV
  70. 70. Food Tech Report, July 201671 Dine Out (15/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors ChiShenMa [Shanghai, 2014]: Service account in Wechat that connects the user to meals, depending on his mood, by making personal food recommendations. Part of Chinaccelerator Batch V. Backed by SOSVentures as on AngelList. SOSV Cravely [Plainfield, 2012]: Crave.ly lets users search for food closest restaurants around them. Start Garden Go Zmenu [Burlingame, 2013]: ZMenu is an online food discovery platform that provides photos and rating at individual dish level. The "featured dishes" showcases the best offering of a particular restaurant. Users can also explore the full menu of a restaurant with dish photos, ratings and reviews. The "food journal" helps track your tasting history and serve as your bookmark to those impressive food you tried before. Over time, the app learns users' personal tastes and connects them with their favorite food and restaurants. The company claimed a 75% growth month on month growth in active customers in Feb 2014. Incubated by Tandem Capital. Tandem Tavern [Greenville, 2012]: Tavern is a mobile app that lets users share the beers they like with their friends. Users can share and discover popular brews and share their choices on social platforms. Member of The Iron Yard 2013 startup accelerator. The Iron Yard Foody [Ho Chi Minh City, 2012]: Foody.vn is a free restaurant review app dedicated to help users find nearby restaurants with honest restaurant ratings and reviews by consumers and food critics. The app features a wide network of food restaurants ranging from restaurants, bars, cafes, bars, bakeries, and resorts in the local neighborhoods of Vietnam. Foody allows its members to submit image and text reviews and participate in an online evaluation based on 5 topics: food, location, space, and price and service. Tiger Global Management, Cyberagent Ventures, CyberAgent, Garena, Pix Vine Capital
  71. 71. Food Tech Report, July 201672 Dine Out (16/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Munch On Me [San Francisco, 2011]: Munch On Me is a food discovery portal that connects people with daily deals on food in local communities. Took a smaller commission on their meals. Part of Y Combinator 2011 summer batch. Was present in 20 college towns in California, before being acquired by CollegeBudget in May 2012. Y Combinator YumDots [San Francisco, 2007]: YumDots is a mobile application for finding restaurant places to eat depending upon the users review and price range. It uses interactive maps to display information and location about the local restaurants. The app also has reviews posted from other users to make it easier to understand the quality of food. The company is dead pooled as February 2012. Y Combinator Gimemo [Delhi, 2013]: Gimemo is a food discovery platform that enables users to play a virtual game of guessing dishes and win points. On the platform, users can browse and discover dishes in their city and add them to wishlist. The platform is in beta stage as of Sep 2014. Zagat [New York City, 1979]: ZAGAT.com features over 30,000 of the best places to eat, drink, and stay worldwide. The site is published by and based on the renowned 30 years, Zagat Survey (a survey-based restaurant guide). ZAGAT.com provides access to ratings and reviews for restaurants, nightspots, hotels and attractions in hundreds of cities worldwide. It features menus, photos, virtual tours, updates on the latest openings and closings with ZAGAT BUZZ. Svaad [Hyderabad, 2014]: Svaad is a food and restaurant discovery app. It provides restaurant listings based on recommendations from social connections and local food experts. Users can search for restaurant based on the dishes they offer. Users can also add dishes that are recommended to their wishlist and app will show them when user is in a restaurant. Covering only Hyderabad as on April 2015
  72. 72. Food Tech Report, July 201673 Dine Out (17/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors MyPref [Indore, 2012]: Location based food finder, planner and reminder app. Available for both iOS and Android. Has social sharing features. Helps restaurants connect better to their customers through their mobile apps. Present in Indore, Bangalore, Mumbai as of Aug 2014 Redfoodie [Delhi, 2014]: Redfoodie is an online food guide and restaurant directory. On the platform, people can read and write reviews about their favourite restaurants and help other foodies make a choice. forkly [Denver, 2010]: Forkly is a mobile and web platform for restaurant discovery based on dishes. Users can rate, share, and explore food at a individual dish level. milmenus [Bogota, 2010]: Milmenus.com is a restaurant guide in Bogota. They offer a neutral data base of restaurants filtered by zone, type of food and with complete information about the restaurant with the menu, location, phone, and map. Website not operational as of May, 2016. [San Francisco]: Nosh is an app that lets users share pictures of their food and also recommend specific dishes/meals that they would want other people to try at a particular restaurant. It is a product from Firespotter labs. Nosh uses third party vendors and hosting partners to provide the necessary hardware, software, networking, storage, and related technology required to run the Service.
  73. 73. Food Tech Report, July 201674 Dine Out (18/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors Quintisocial [London, 2014]: Quintisocial is a bar and pub listing portal. The website is a free listing and reviews website. To write a review user needs to simply sign up, either by filling in the sign up form or by logging in with facebook account. Tabelog [Tokyo, 2005]: Tablelog, owned by Kakaku.com, is a restaurant discovery platform in Japan providing information on local restaurants. Toresto [Bandung, 2011]: Toresto is an Indonesia based food discovery app. User can search for restaurants with address and contact number, check menu, get direction from Google map. Twenty Something London [London, 2012]: TSL is a recommendation site that targets 20-35 young professionals looking for unique and inspirational businesses. The site features independent businesses and events ranging from food and drink to products. IndianDelicacy [Surat, 2012]: Indian Delicacy is an portal for discovering restaurants in Surat. Provides online menu, maps, ratings, reviews and photos. Does not have an online ordering or table reservation feature. Indian Delicacy is an offering by Blue Coinage Networks LLP.
  74. 74. Food Tech Report, July 201675 Dine Out (19/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors FoodiesCompass [Gurgaon, 2014]: Online food recommendation social platform which helps customer to search for restaurants using dishes. Has listed around 200 of Gurgaon’s restaurants on the platform displaying their selected food items. Has a dedicated team that collects data and photos of dishes directly from the restaurants. FoodSome [Surat, 2013]: FoodSome offers a restaurant discovery platform. Provides details including online menu, interior decor, basic contact information, user reviews, photos. Offers exclusive discount offers from various restaurants. Currently lists restaurants from Surat, Vadodara and Navsari. Offers mobile app. Designed by Pixml Solutions bestfoodplaces [Indore, 2011]: Best Food Places is an online platform to discover food by restaurant listings. Users can search for restaurants, type of food, cuisines, ratings and reviews of the restaurant through the platform. Operational in Indore as of Apr'16. Offers mobile app on Android and IOS platform. TestyFood [Pune, 2013]: TestyFood is an online platform that lets users discover restaurants based on location, budget, cuisine and ratings. Users can review restaurants. Provides menu, photos and contact information about the restaurant. Restaurants can request to be listed on the platform. Claims to have listed over 200 restaurants. Koottan [Kochi, 2013]: Koottan is an online restaurant discovery portal currently operational in Kerala and Goa. Provides restaurant ratings, social recommendations, community generated reviews and food ratings. Offers discounts via partnerships with restaurants. Also provides free listings for teashops and bakeries. Mobile app currently in testing phase. Has a separate website for Tanzania's Dar Es Salaam, spinack.com. 600+ restaurants listed. Incubated at Startup Village, Kerala.
  75. 75. Food Tech Report, July 201676 Dine Out (20/62) Dine Out Food Ordering Platforms Chef Marketplace Beverages Groceries Catering Tech for Restaurants Technology Solutions Specialty Food Food Substitutes Waste Management Pet Foods Others Company Details Funding Investors SuggestMe [Delhi, 2012]: SuggestMe is an upcoming online platform that aims to become a food discovery platform to suggest restaurants, hangout places based on budget and food preferences. Yet to launch as of April 2016. StreetfoodQuest [2016]: Street Food Quest is a mobile app for discovering street food locations around the city. Users can filter food joint by establishment type, food type, distance and schedule and have them displayed on a map. They can also share the same on various social networks and find directions to various food joints. Foodress [Ahmedabad, 2012]: Foodress is an online and mobile local food outlet & restaurant discovery service. Claims to list restaurants in over 140 towns in India, however, their coverage is significant only in Ahmedabad. Registered users can find food outlets in specific locations of the city & also review the outlets. Claims to have apps on Android & iOS platforms, but only iOS app is functional as of April 2014. It's a part of Orane Inc based at Ahmedabad. Foodieshunt [Ahmedabad, 2014]: Foodieshunt is an online platform for food discovery. Users can search for food-joints, best deals and restaurants. Restaurant owners can post the details of their restaurant. Claims to have listed over 2000 restaurants on the portal. As of November 2015, present in Ahmadabad. Planning to launch mobile app in future. Mycoolhangouts [Bangalore, 2014]: Mycoolhangouts is an online platform to discover and seek recommendations about places from friends. Integrates friends from Facebook and then users can request for recommendations and share experiences on places they have been to.

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