Oddle raises US$5M to fuel product development, regional expansion

by Msnbctv news staff

Singapore-headquartered F&B know-how firm Oddle introduced right now (Might 18) that it has raised US$5 million funding in a Collection B spherical led by know-how enterprise capital agency Altara Ventures.

In keeping with Oddle, this new injection of funds shall be used to energy product growth and regional market growth in Singapore, Malaysia, Taiwan and Hong Kong.

The funds will assist deliver Oddle’s full suite of online-to-offline (O2O) options throughout the area, which at the moment includes e-shop options, reservation programs, QR ordering programs and cost terminal options.

Finishing the ecosystem are model enhancement providers resembling managed advertising and marketing providers and meals discovery platform Oddle Eats.

Oddle has not too long ago launched the consumer-based Oddle Eats app in Singapore, and can progressively roll it out in different markets within the third quarter of 2022.

“We’re very joyful that Altara has positioned their belief in us, because the funds assist us to increase our choices throughout the area. As eating places’ income companion, it’s important to us that they do nicely. Over the previous two years — regardless of the pandemic ravaging the F&B sector — we now have empowered our companions to not solely maintain by means of COVID-19 restrictions, however we now have additionally helped lots of them thrive, which in flip drove our personal success,” stated Jonathan Lim, founder and CEO of Oddle.

“Oddle’s multitude of options and providers permits every F&B operator to construct significant engagements with their finest prospects by means of good information. Because the economic system begins to open up, offering retailers with cutting-edge options and experience to drive their profitability and future-proof their eating places shall be our fundamental precedence for the following few years to come back.”

Oddle has seen robust development regardless of COVID-19

Picture Credit score: SuperAdrianMe

Based in 2014 as a white-labelled e-commerce supplier for F&B operators, Oddle is now a holistic hospitality powerhouse that has partnered over 5,000 eating places, cafes, bars, and resorts throughout the area.

Oddle fills the hole within the F&B business by serving to F&B house owners enhance and optimise their operations by means of good information and significant engagement.

Its “At all times Restaurant First” philosophy differentiates itself from its rivals, because it goals to offer every F&B operator most yield at minimal prices.

Inside two years, Oddle has helped its restaurant companions develop their Gross Merchandise Quantity (GMV) from S$30 million in 2019, to S$200 million in 2021.

Oddle themselves noticed over 17 occasions enhance in income over the identical interval, and is now “capital-efficient”, in accordance with the corporate.

“Oddle makes cash solely when its companions are profitable in rising visitors and income. This ensures sustainability for each the corporate and its companions and is mirrored within the firm’s latest efficiency. The brand new merchandise that Oddle is launching will additional strengthen their providing as a key enabler of the F&B ecosystem,” stated Seow Kiat Wang, Normal Companion of Altara Ventures.

By means of their O2O ecosystem, Oddle is constantly constructing for the way forward for the restaurant business and is now at a hypergrowth stage.

Featured Picture Credit score: Oddle

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