Digital restaurant platform raises $37m in plans to open 10,000 online venues by 2025
A London digital restaurant company has announced that it has raised $37m of funding as it aims to have 10,000 venues live by 2025.
Taster, which partners with chefs and existing kitchens to launch digital restaurant brands, has raised $37m in Series B funding, led by Octopus Ventures with participation from Rakuten, as well as from existing investors Battery Ventures, Latitude and Heartcore Capital.
The company currently has more than 70 digital restaurants in the UK, France and Spain, and operates the Out Fry, Mission Saigon, A Burgers, Stacksando and Bian Dang brands.
The latest funding will be used to increase Taster’s presence across Europe and drive expansion into new cities, with the goal of being present in 40 cities by the end of this year.
It is also launching two new brands this year, and is aiming to have 10,000 digital restaurants across the globe by 2025.
Anton Soulier, co-founder and CEO of Taster, commented: “If McDonald’s or Burger King were to launch today, they would do so in a radically different way to how they did in the 20th Century. Back then, consumers wanted to eat ‘fast and cheap’; in 2021, they want to eat ‘fast and well’.
“At Taster, we want to redefine what it means to be a restaurant group in the 21st century; by combining strong brands, innovative technology and a model that works for restaurateurs and customers alike, we are proving that it is possible to quickly launch and scale popular food brands that don’t compromise on quality, customer experience or pleasure.
“We couldn’t be happier to announce today’s funding, which will enable us to reach as many people as possible with our food brands and will help us make our platform available to even more restaurateur-entrepreneurs looking to accelerate their incomes.”
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