Malaysian AI-based food delivery startup SmartBites acquired $100,000K to raise the business to a higher level. Unlike other food delivery systems, Smartbites’ delivery is not available to homes; rather it delivers food to offices in Kuala Lumpur.
The psychology behind Smartbite is to help professionals to access the food easily. Without making the ordering more complicated, it restricts the food delivery for lunch and dinner only.
With limited years of its inception, it could show a surprising transformation to the Malaysian city.
Many professionals working in Kuala Lumpur find the service quite helpful to escape from the headache of searching for food.
Backed with artificial intelligence, it offers limited items that a user can rotate daily. The brilliant process also allows restaurants to make the dishes more effectively.
The team could perceive the psychology of corporate professionals in the business sectors and the basic economics of food delivery, says SmartBite chief executive officer and co-founder Gabriele Fadda.
According to him, the business is achieving a daily average gross profit margin of 15% to 20%.
With the effective implementation of artificial intelligence and machine learning, SmartBite could help corporate employees to super simplify the process of eating as well as saving time and money, he adds.
While closing the latest investment, the company has a total investment of over US$700,000. The two prior rounds helped the foodtech to raise US$300,000.
The latest funding will be spending to improve the catering service to different levels along with employee benefit programs.
The new development will focus on F&B requirements for events, meetings, and other corporate activities. It will help employees to directly connect with SmartBite rather than connecting different chains to get the requirement.
A wholesale food ordering for large corporate sectors is also a part of the future plan list. A collaboration with HR departments will be the major move to work on employee benefit programs.
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