Coca-Cola Amatil has taken a minority stake in Singapore-based restaurant tech start-up TabSquare through its Amatil X accelerator division.
TabSquare provides artificial-intelligence-based solutions to restaurants, including the self-learning SmartKiosk self-ordering system, which provides meal recommendations to consumers by using their phone number to determine their eating preferences.
The company has also created a range of other AI-based solutions for restaurants, such as the tablet-based SmartTab waiter service, the SmartApp online-ordering platform and more.
SmartTab says that its solutions can help optimise the operations of restaurants by reducing labour costs, improving the restaurant experience for diners and improving operational efficiency for restaurant owners.
This venture marks the second investment that Amatil X has made since the business accelerator was established by Coca-Cola Amatil earlier this year.
Chris Sullivan, Coca-Cola Amatil’s group director, partners & growth said: “This includes investing in restaurant tech companies like TabSquare which has developed a solution to benefit restaurants and their customers by using technology to streamline and personalise the dining experience.
“Our employee’s startup idea was very similar to TabSquare, so they decided to explore TabSquare rather than reinvent the wheel.
“We were impressed by the solution that TabSquare was promoting which has led us to invest in them.
“They have a strong team, a clear business model and ambitious growth plans, which include expanding from their established Singapore base to the whole of the Asia Pacific region.”
TabSquare co-founder Chirag Tejuja added: “Our technology can personalise the entire dining experience for each customer, treating them uniquely, at scale.
“We have 6000 active terminals in market, serving 12 million diners annually. We are collecting rich customer data at every interaction, allowing the restaurant to provide a unique and personalised dining experience.
“There is a huge market opportunity for TabSquare in this region. The addressable market is more than S$1 billion in South East Asia, Australia and New Zealand alone.
“We already have an existing customer base in most target markets and will rapidly grow our footprint in the region with the current round of investment funding.”
