Singapore-based e-menu startup Tabsquare has announced today that it has raised S$589,000 (or about $480,000) in funding from local incubator Get2Volume, along with co-funding from Singapore’s National Research Foundation. The startup aspires to use the funds to further develop its restaurant e-menu system.
The startup, founded by three graduates from INSEAD, uses a tablet-based solution, which integrates cloud-based data storage, inventory managment, CRM, and point-of-sales systems. There is also multi-language support on the customer side, as well as the capability to vary your pricing according to the time of day, or day of the week.
The startup claims that this results in lower waiting times, and a more engaging experience for the customer. For the restaurant, it gets all the afore-mentioned services for a monthly fee.
In addition to its e-menu solution, the startup also has a repertoire of other tablet-based solutions for different sectors of the hospitality industry, such one for hotels, and another for small kiosks. Mike Holt, the CEO of Get2Volume added in the announcement:
While there are many restaurant back end systems that manage efficiencies and inventory, there is little that addresses front-end efficiency management and consumer experience in the restaurant. […] We are pleased to incubate and fund Tabsquare to continue to grow its cloud-based retail management system.