iChef, an Echelon alumni, is hoping it can have its POS system in 3,000 stores by the end of the year
iChef Information Consulting Inc. (iChef), a Taiwanese restaurant technology company has raised a US$5.6 million Series A round to expand international distribution and build a data platform.
Participants in the funding round were AppWorks, CDIB Capital International and CTBC Venture Capital.
Moving forward, iChef has set a target of serving 3,000 stores across Asia by the end of 2016. It wants to accelerate its integration with CTBC Bank and KGI Bank to develop a data analytics application. Finally, the company wants to reinvest in technology.
“We are not only creating the point-of-sale (POS) App, but also making the best restaurant technology in the world. [We are] not only establishing an international restaurant POS brand, but creating an international venture community and media — making opening restaurant a better business,” said iChef CEO Benjamin Wu in an official statement.
iChef is an all-in-one restaurant iPad app with features like table management, reservations booking, food ordering (which includes a nifty ‘flavor tags’ feature for special requests). The orders can be connected to a receipt machine so runners or chefs can quickly begin the cooking process.
After the meal, it’s a useful tool for payment because it makes splitting the cheque easy and accepts multiple payments.
Finally, if a restaurant’s Internet goes down, iChef can continue to operate for 48 hours.
The product costs US$100 per month and each additional iPad is an extra US$25 per month.
iChef is an alumni of the e27 Echelon conference and won the ‘Global Brain Award’ at Echelon 2014.
Based in Taipei, AppWorks is the largest accelerator in Asia, boasting an alumni network of 256 startups. It manages a US$61 million VC fund to get startups from “1 to 100″. Notable alumni include Kuo Brothers, PubGame and EZTABLE.
CDIB Ventures has been in operation for 50 years but has recently shifted its focus to startups, biotechnology firms and the creative class.
CTBC Venture Capital is a wholly owned subsidiary of CTBC Bank — one of the largest privately owned banks in Taiwan.
Photo Courtesy of GoRaydar.
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