Restoke.ai, a Melbourne, Australia-based hospitality tech startup, has raised $5.1 million in funding.
Investors
The round was led by Rampersand, with participation from Mandalay Venture Partners, Archangels, and US-based VCs BC Growth and Stage2 Capital.
Founded in 2013, Rampersand is a venture capital firm investing in early-stage startups in Australia and New Zealand. Based in Melbourne, the firm focuses on the technology sector, particularly in artificial intelligence, data, B2B SaaS, marketplaces, climate, health, quantum computing, and other cutting-edge fields.
Restoke.ai Use of Funds
The company will use the funding to fuel its expansion into the US market.
About Restoke.ai
Founded by Assaf Stizki and AI expert Ken Brand, Restoke.ai specializes in restaurant process automation and team management. Its AI-powered management platform integrates with restaurant systems to automate key operations such as food costing, inventory, team management, and accounting. The platform provides real-time insights into expenses and identifies opportunities for cost savings and profit growth. Currently, over 2,000 restaurants across Australia, New Zealand, Singapore, and the US use the platform.
Funding Details
Company: Restoke Pty Ltd.
Raised: $5.1M
Round: Unknown
Funding Date: September 2024
Lead Investor: Rampersand
Additional Investors: Mandalay Venture Partners, Archangels, BC Growth, Stage2 Capital
Company Website: https://www.restoke.ai/
Software Category: Restaurant Management
Source: https://www.forbes.com.au/news/innovation/hospo-tech-raises-5-1-million-to-save-restaurants-amid-flailing-industry/