FineDine raises $600K in Pre-Series A funding round
FineDine, a management platform for restauranteurs, has raised $600K in a Pre-Series A funding round, from 500 Startups Istanbul, TechOne VC, twozero VC, Savour VC, and angel investors.
• FineDine is a SaaS solution that helps restaurants increase sales and customer retention by enabling self-ordering and self-checkout on AI-driven interactive digital menus.
• FineDine currently serves more than 1200 customers in 64 countries.
• The funds will be used to continue developing their AI module and grow faster in the countries they are operating in.
Duygu Kutluoglu Kilic, Co-founder and CEO of FineDine said, "COVID-19 pandemic affected many businesses. The restaurant industry had one of the most significant hits. The change of regulations and consumer demand is forcing restaurants to digitize their operations rapidly, and FineDine products fit perfectly with restaurants’ new requirements."
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Read the full press release below.
AI-driven digital ordering and restaurant management platform FineDine has raised $600K in an investment round from 500 Startups Istanbul, TechOne VC, twozero VC, Savour VC, and angel investors Hande Enes, Cenk Serdar and Lovrenc Kessler.
Founded by Duygu Kutluoglu Kilic and Adil Burak Kilic, FineDine is a SaaS solution that helps restaurants increase sales and customer retention by enabling self-ordering and self-checkout on AI-driven interactive digital menus. FineDine also helps restaurant managers make smart business decisions by providing them AI-powered analytics and predictions.
FineDine was launched in 2016 and currently serves more than 1200 customers in 64 countries. Globally famous Turkish restaurant chain Nusr-et, Shangri-La, Hilton, Sofitel, and Raffles Hotels in the GCC, South East Asia, and the USA, are some of their well-known customers.
Alumni of 500 Startups’ Accelerator Program in San Francisco (Batch 23), FineDine previously received investments from 500 Startups’ Istanbul, and MENA fund, Savour VC and Turkish angels Firat Isbecer and Hande Enes.
Duygu, Co-founder and CEO of FineDine, was excited to announce this new investment and said, “COVID-19 pandemic affected many businesses. The restaurant industry had one of the most significant hits. The change of regulations and consumer demand is forcing restaurants to digitize their operations rapidly, and FineDine products fit perfectly with restaurants’ new requirements.
"We are excited about this investment round. We will use the funds to continue developing our AI module and grow faster in the countries we operate.
"I especially want to thank Rina from 500 Startups and Hande Enes for their support during the chaotic pandemic. Their support was priceless and showed that having supportive strategic partners makes us more powerful than having money. “
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2019 has seen $516M invested in GCC-based startups, a 22% drop in total funding from $661M in 2018, mainly concentrated in the UAE. Discover more trends and insights in our 2019 GCC Venture Investment Report.