FoodStory, a Thailand-based POS and restaurant management startup, seeks to improve the operation efficiency of restaurants in the country after raising an undisclosed sum in its Series B funding round.
In a statement, the startup said the funding round was led by Beacon VC, the venture capital arm of Kasikornbank PCL (KBank), and participated by JWD InfoLogistics PCL.
Also known as Living Mobile Co Ltd, FoodStory provides POS and restaurant management system as well as a food supply marketplace called “FoodStory Market”. The startup was established in 2012.
FoodStory offers a one-stop solution for various types of restaurants including sit-down restaurants, buffets, coffee shops, and food trucks. Users can get started with a single iPad.
The platform also covers dine-in and delivery services management as well as backend operations including integration with accounting systems. It offers several subscription packages and hardware equipment
to support diverse restaurant requirements.
FoodStory seeks to improve restaurant efficiency
The company said it will use the proceeds to support product development to improve restaurant operation efficiency.
Additionally, FoodStory aims to enhance the Thai restaurant ecosystem by turning data into insights for restaurant owners to better understand and optimize their businesses for sustainable development.
“In order to empower a comprehensive restaurant ecosystem that connects Farm to Folk, we need a strong financial services partner like KBank and a cold chain logistics expert like JWD to fill these gaps and
successfully build on the new form of supply chain business,” said FoodStory’s founder and CEO Thagoon Chartsutipol.
Beacon VC, one of the led investors in the funding round, believes that FoodStory will play a crucial role in helping restaurant entrepreneurs to survive this crisis, especially as they shift from dine-in to take-out and food delivery.
“Through Beacon VC’s investment and collaboration with FoodStory, we aim to support small and medium-sized restaurants by improving their access to financial products and funding through data utilization,” according to Thanapong Na Ranong, managing director of Beacon VC.