Savor the flavors of restaurant tech

Our new in-house intelligence team is cooking like a four-star kitchen! After months of sifting through a myriad of online sources, we have created what is likely the most comprehensive cross-Atlantic data set to map and understand the ‘digital restaurant’ start-up space in both Europe and the USA.

Intently curious about uncovering Restaurant Tech start-ups’ recipes for success, we initially focused on capturing where founders got their first break, how much first and follow-up funding materialized, what tech concepts and business models prevailed, and how individual start-ups compare to same-space peers.

Next on the menu – in an effort to share our initial findings, we’re excited to serve up our first in a series of resttech ‘Savor the Flavor’ info bites. Stay tuned for additional insights, since we will be adding more startups and fine-tuning our data in the weeks to come.

When we talk about digital restaurants and restaurant tech, the first question that comes up is: what exactly do we mean? Every restaurateur knows that a large number of commercial processes and systems requirements are necessary to running a restaurant. All processes, services and technologies used in the restaurant’s process chain with software or an app fall under the category of restaurant tech.

A look at the most important results:

© Metro Accelerator | Savor the flavors of restaurant tech

• The restaurant tech industry is still very young. Although, the first early adopters started using these technologies in the 90’s, a real boom could only be identified as of 2010 in the USA.
• Many of the most successful players in the restaurant tech market were founded after 2010.
• Most restaurant tech companies offer solutions focused on the restaurant guest and want to improve their customer journey.
• More than half of the analyzed companies used the online payment method for their solutions.
• Most startups offer specialized products that cover a maximum of three processes in the restaurant process chain. Concepts that take all processes into account are rare.

In the next few weeks, we will analyze the individual business models more closely, also examining the differences between the European and the American market. We invite you to explore the restaurant of the future and the enormous potential for restaurant tech solutions.