Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Presto raises $30M to bring its AI platform and tabletop ordering hardware to restaurant chains

The “restaurant of the future” may elicit thoughts of a chrome diner with robot servers and an otherwise hefty amount of Tokyo futurist kitsch, but the fact is that the forthcoming sit-down dining experience may just end up looking a lot like ordering from a takeout app.

Presto is working with restaurants to update the 21st century dine-in experience, letting customers order and pay from their table with a tablet device while also providing hardware like wearable for servers so that they can be alerted when they are needed by customers.

The company announced today that they’ve raised $30 million in growth funding from Recruit Holdings and Romulus Capital. I2BF Global Ventures, EG Capital and Brainchild Holdings also participated in the raise. 

Considering how much online shopping has shaped commerce and apps like Instacart and Uber Eats are changing how we get food delivered to our houses, it’s a bit peculiar that physical restaurants with hundreds of locations have been so slow to shift the customer experience towards a greater reliance on tech.

Presto has launched partnerships with a number restaurant chains like Applebee’s, Red Lobster, Denny’s and Outback Steakhouse. These aren’t exactly mom-and pop locations, but Presto CEO Raj Suri says that these large restaurant groups are always looking to shift their weight to improve efficiencies across the board with new tech in a way that most small businesses just aren’t.

“I would say most restaurant groups are looking at how they can become more of a tech company… and adopt technology that could help them become more efficient,” CEO Raj Suri tells TechCrunch. “The industry is moving in this direction in a pretty significant way and it won’t be long before you see our technology in every restaurant.”

Beyond the ordering hardware, Presto’s new AI platform is aiming to give restaurants a more robust look at the state of each individual business and insights that help managers make decisions about staffing or deciding what food items to stock. The platform leverages a variety of data inputs so that things like nearby sporting events or weather patterns can be integrated into suggestions about how many servers should be staffed on a given Tuesday.

Presto is looking to supercharge their platform with the funding and rapidly expand their footprint. The 11-year-old company is now supporting 5,000 restaurant locations, but Suri says that Presto will double that number in 2019.

Comments

Post a Comment

Popular posts from this blog

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted a...
3 comments
Read more

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Billionaire clothing dynasty heiress launches Everybody & Everyone to make fashion sustainable

Veronica Chou’s family has made its fortune at the forefront of the fast fashion business through investments in companies like Michael Kors and Tommy Hilfiger . But now, the heiress to an estimated $2.1 billion fortune is launching her own company, Everybody & Everyone , to prove that the fashion industry can be both environmentally sustainable and profitable. There’s no argument about the negative impacts of the fashion industry on the environment. The textiles industry primarily uses non-renewable resources — on the order of 98 million tons per year. That includes the oil to make synthetic fibers, fertilizers to grow cotton, and toxic chemicals to dye, treat, and produce the textiles used to make clothes. The greenhouse gas footprint from textiles production was roughly 1.2 billion tons of CO2 equivalent in 2015 — more than all international flights and maritime shipments combined (and a lot of those maritime shipments and international flights were hauling clothes). The lit...
Post a Comment
Read more