Singapore F&B startup bites into $5m pre-series B for expansion

Singapore-based Oddle, an omnichannel F&B startup, has raised US$5 million in a pre-series B funding round led by Altara Ventures.

The Oddle team: co-founders Alan Goh, Jonathan Lim and Yong Xiang Pua / Photo credit: Oddle

Oddle helps F&B owners optimize their operations through its features. Its online-to-offline offerings include QR ordering systems, reservation systems, as well as payment terminals and e-shop solutions. The firm also provides brand enhancement services, such as marketing, and Oddle Eats – its food discovery platform.

Oddle was founded by Jonathan Lim, Yong Xiang Pua, and Alan Goh in 2014. The company had a 17x revenue growth last year, increasing its gross merchandise value from US$21 million in 2019 to US$144 million in 2021.

It plans to use the new funds for product development and market expansion in Singapore, Hong Kong, Malaysia, and Taiwan.

Oddle Eats has recently launched as a consumer app in Singapore and will be released in other markets in the third quarter of 2022.

“As the economy starts to open up, providing merchants with cutting-edge solutions and expertise to drive their profitability and future-proof their restaurants will be our main priority for the next few years to come,” said Lim, the company’s co-founder and CEO.

See also: These are the most active investors in Singapore’s startups