Food tech startups bridging the tech gap in restaurant ecosystem

Food tech startups worldwide are changing the way their industry works, whether it's by reimagining food distribution, expanding access to delicacies from fine dining establishments, or supporting sustainable food products by repurposing spurned yield.

Increasing internet permeation, increased ordering frequency, expanded reach in smaller towns, and the inclusion of more restaurants on food tech platforms are all factors driving growth in the food tech industry. According to a Google and Boston Consulting Group (BCG) report, the Indian food tech sector will be an approx $8 billion industry by the end of 2022.

With technology penetration, the way restaurants operate today has changed. Instead of only serving people in physical establishments, restaurants have realised the importance of having a robust digital presence. Whether it's taking orders through websites or being everywhere on mobile apps, doing business through digital media has transformed the outlook for both large and small restaurants. According to the Boston Consulting Group's Google Report on Online Food Consumerism, online spending is expected to increase by 25% CAGR to $130 billion by 2025. Resulting in a rise of startups in the food-tech space, all vying for a piece of this revenue pie.

Let's take a look at some of the food-tech startups that are aiding restaurants as tech partners

Dineout

Established in 2012, Dineout is an online restaurant table booking service platform. Customers can make restaurant reservations online through Dineout's website, Android app, iOS app, and concierge desk. The organisation provides exclusive deals at over 40,000 restaurants across India. Besides that, the company also offers a premium product called Dineout Plus, using which subscribers can cash exclusive discounts at over 250 five-star establishments. Dineout, in collaboration with InResto and Torqus, is India's largest dining out and restaurant digital solutions platform, processing over 40 million customers and $800 million in transactions for its partner restaurants across its network of 45,000 eateries in 20 cities.

Easy Eat

Easy Eat is an AI-powered tech platform that builds tools to help restaurants transition into technology companies. Through their cutting-edge technology, the startup solves the biggest problem of restaurants: making the direct connection between their customers. At the heart of their technology is an operating system with integrated QR based table ordering, loyalty programs, payment solutions, social media integration, inventory and integrated delivery services. Once the restaurant adopts Easy Eat's technology, the entire operation moves online. Like any other technology company, restaurants can capture every data point in the value chain, which leads to a better understanding of customers' choices, higher revenue and reduced cost. Founded in 2020, the startup already has 500+ restaurants signed up on their platform and have helped restaurants earn additional 4cr+ revenue during the lockdown.

Petpooja

Founded in 2011, Petpooja is restaurant POS software to manage restaurant billing, KOTs, inventory, online order, menus, and customers. Conceived with a vision to be the go-to Operating System for all F&B retail worldwide, Petpooja today is not merely a service provider. Instead, it delivers a product that ensures coherent and sustainable solutions for its restaurant partners. The company's SaaS tools strike the perfect balance by being simple enough for primary users yet highly comprehensive to power users. Helping restaurants visualise important data the way they want to, Petpooja offers optimised POS solutions for those who enter the data, i.e. biller, staff, manager, and the one who analyzes it, the restaurant owner.

In the coming years, there will be a significant increase in the number of food-tech companies worldwide as people's expenses will be influenced by technological innovations as they focus on new food experiences. The food-tech sector is expected to attract more customers in the future, owing to a cheerful public disposition and an increase in ordering intensity. Whether ordering food online or having meals delivered via mobile food apps, restaurants must adapt to the digital age to stay in business.