Belgian food tech start-up raises US$65 million in funding

Deliverect, which operates in 30 countries, provides software to restaurants to manage online orders from multiple delivery platforms on a single system.

Belgian food tech company Deliverect, a start-up that provides software to restaurants to manage online orders, has managed to raise US$65 million in a new round of funding. The investors include DST Global, Redpoint Ventures, OMERS, Newion, Smartfin and Founders.

Technology has rapidly become an integral part of the F&B business model, especially since the outbreak of the pandemic. With delivery services becoming a crucial means to sustain business, restaurants have increasingly partnered with aggregators and other online platforms. Deliverect, founded in 2018, provides software that integrates incoming orders from various platforms into one system.

Operating in 30 countries around the world, Deliverect’s software is used by around 10,000 restaurants and cloud kitchens, including big names such as KFC. It is tied up with major delivery companies such as Deliveroo and Uber Eats, among others in Europe. The company reported a 750 per cent increase in the number of orders processed every week across last year.

Although the pandemic has accelerated the demand for online delivery services, the company says the need for digital transition was a growing trend even before. It says its software not only allows restaurants to function more efficiently but also reduce missed or incorrect orders. As lockdowns are lifted across the world, and diners start to return, Deliverect expects its tech to be even more relevant, as restaurants will need to balance online and in-person orders.

The company’s founder Zhong Xu said, “The restaurant industry is in a historical moment of change and digitalisation, and delivery has become crucial for the survival of this industry. Our mission is simple: to be the backbone of on-demand food helping to support restaurants around the world to thrive in the online space.”

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