fbpx

AsiaTechDaily – Asia's Leading Tech and Startup Media Platform

  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Menu
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Submit Article
Food Technology31 May 2022 8:32

Singapore food tech startup Oddle raises $5m in pre-Series B funding

by Team AsiaTechDaily
Bookmark (0)

Please login to bookmark

No account yet? Register

Oddle, the omnichannel F&B technology company headquartered in Singapore, announced raising $5 million in its pre-Series B funding round led by technology venture capital investor Altara Ventures.

As Oddle continues to disrupt and revolutionise the food technology industry in the Asia Pacific, funds from this bridge round will power product development and regional market expansion in Singapore, Malaysia, Taiwan and Hong Kong, according to the announcement.

The funds will help bring Oddle’s full suite of Online-To-Offline (O2O) solutions across the region, which currently comprises e-shop solutions, reservation systems, QR ordering systems and payment terminal solutions.

Completing the ecosystem are brand enhancement services such as managed marketing services and Oddle Eats, a food discovery platform used by millions of hungry consumers in Asia. Oddle has recently launched the consumer-based Oddle Eats app in Singapore, while the rollout of the app in other markets will follow in the third quarter of 2022.

This fundraise comes on the back of exceptional growth for Oddle. In two short years, Oddle has helped its restaurant partners grow their Gross Merchant Value from $21 million in 2019 to US$144 million in 2021.

At the same time, Oddle themselves achieved revenue of US$18 million in the financial year that ended March 2021, while maintaining a low burn multiple (below 0.1). This investment by Altara Ventures signifies Oddle’s steadfast position and sustainable business approach.

“We are very happy that Altara has placed their trust in us, as the funds help us to expand our offerings across the region. As restaurants’ revenue partner, it is essential to us that they do well. Over the past two years, despite the pandemic ravaging the F&B sector, we have empowered our partners to not only sustain through COVID-19 restrictions, but we have also helped many of them thrive, which in turn drove our own success.” says Jonathan Lim, Oddle’s founder and CEO.

Founded in 2014 as a white-labelled e-commerce provider for F&B operators, Oddle is now a holistic hospitality powerhouse. Oddle is the trusted partner of over 5,000 restaurants, cafes, bars, and hotels across the region. In September 2021, Oddle launched ‘Oddle Reserve’, an all-new reservation system to support F&B merchants in these challenging times.

Tags:

Similar Articles

Startup Policy4 Dec 2023 7:13

Navigating Singapore’s Startup Ecosystem: Top 5 Funding Initiatives Unveiled

More
Sabrina Peng, Chief Sustainability Officer of Ant Group, speaking about Alipay Ant Forest at COP28 in Dubai, UAE
Featured1 Dec 2023 4:28

Leveraging digital platform to amplify green participation by the public: An Ant Group case study presented at COP28

More
(Habitto Co-founder and CEO Samantha Ghiotti, Source: Cherubic Ventures)
Interviews29 Nov 2023 2:12

How Habitto managed to break into the Japanese Fintech scene in record time without knowing a word of Japanese

More

Weekly popular posts

Venture Capital30 Nov 2022
Australian startup FrankieOne gets another $15.5m for fraud detection
more
FinTech30 Nov 2022
Funding Societies hits THB1bn mark in loan disbursements to Thai SMEs
more
FinTech29 Nov 2021
Grab leads latest funding round in Indonesia’s Bareksa
more
Events5 Dec 2019
ComeUp 2019 Comes To An End After A Successful 3-Day Event
more
Events4 Dec 2019
UNDP’s Global Innovation Initiative for Sustainable Agriculture
more

Topics

Menu
  • AI & Big Data
  • AR & VR
  • Blockchain
  • Clean Technology
  • Content & Games
  • Cybersecurity
  • Enterprise & SaaS
  • Gadgets & Electronics
  • Health & Bio

Program

Menu
  • Ecosystem
  • EdTech
  • Featured
  • FinTech
  • Investments
  • IoT
  • Marketplaces & E-commerce
  • Robotics
  • Transportation & Logistics

About

Menu
  • Home
  • Advertisement
  • Contact Us
  • Privacy Policy

Subscribe and be informed first hand about the actual economic news.

All the day’s headlines and highlights, direct to you every morning.

© 2023 asiatechdaily. All rights reserved.

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback