Foodtech startup Eatsy bags $550k seed round from East Ventures, others

Eatsy today announced it’s nabbed US$550,000 in seed funding from Indonesia-based East Ventures and several angel investors, including Yiping Goh who was the co-founder of Indonesian ecommerce site MatahariMall.

This brings the company’s total funding to US$1 million to date. Its last funding round worth roughly US$400,000 was in June 2018 and was led by Singapore-based Quest Ventures.

Photo credit: Eatsy

Eatsy is a mobile app that allows customers to order meals and pay for them before arriving at restaurants. The Singapore-based company claims to have partnered with more than 200 local merchants and posted “double-digit, month-over-month growth” in both their customer base and gross transaction value since their launch in 2017.

In the West, mobile order-ahead apps have been seeing traction. Canada-based Ritual recently raised US$70 million in a series C round and US-based ChowNow has raised a total of US$43 million since its launch in 2012. US order-online startup GrubHub also acquired payments startup LevelUp for US$390 million last year.

“Eatsy plans to cement its position as a leader in the mobile order-ahead and pick-up space in Singapore,” says Eatsy co-founder and CEO Shaun Heng.

Currency converted from Singapore dollars. Rate: US$1 = SGD 1.35