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Futureplay funds seed investment in Singaporean foodtech ‘Klikit’

2023-03-19 3 min read

Futureplay funds seed investment in Singaporean foodtech ‘Klikit’

Reading Time: 3 minutes

Futureplay, a South Korea-based startup accelerator, today announced that it has participated in a seed round of funding for Klikit, a Singapore-based startup developing a subscription software (SaaS) platform for food and beverage stores. The amount is undisclosed.

The round was led by Singaporean investors Wavemaker Partners and Gentree Fund in the Philippines, with angel investors including executives from global big tech companies such as GoJek, YouTube, and TikTok, as well as influential creators.

Klikit is a startup that aims to build a new food and beverage ecosystem by providing a solution that maximizes sales and profits for food and beverage stores. The company has developed klikit Cloud, an order collection and management solution that enables food and beverage stores to efficiently manage all incoming order information at once. The solution can manage all orders from delivery apps and social network-based commerce such as TikTok and Facebook on a single device.

The solution solves the complexity of existing order management systems by enabling restaurants to manage multiple ordering channels through a single device, freeing up store staff to spend more time preparing food and serving customers. klikit Cloud also adds QR ordering and payment.

It can also be utilized as a single point-of-sale (POS) solution by adding QR ordering and payment capabilities. With all order-related data collected on a single dashboard, the solution can be utilized by small stores as well as franchise brands to increase operational efficiency and reduce costs. Currently, Clickit is looking to expand beyond Southeast Asia and into the Asia-Pacific (APAC) region, where it already powers more than 250 stores in five countries.

With its network of food and beverage stores and order data, Klikit plans to expand into working with creators to launch and deliver food and beverage brands back to stores. This will increase sales for stores and brands, and create a monetization model for creators to grow their business.

“The founder of Klikit was previously a VP at Indonesia’s largest tech company, Gojek, and led Uber’s business expansion in the Asia-Pacific region,” said Seung Hoon Jin, Southeast Asia Regional Investment Lead at Futureplay. “We decided to invest in Klikit because we believe the team has the ability to create a new model for the future of the food and beverage ecosystem and generate significant growth in the region with their strong execution and network.”

“Having deeply admired the creative food and creator culture in Korea, the Klickit team is excited to partner with innovators like Futureplay,” said Chris Withers, CEO of Klikit. “With a vision of creating a more innovative food industry and ecosystem globally as the creator economy grows, we are confident that our business can help restaurants and creators grow sustainably and create new opportunities for fans to interact with their role models.”

Meanwhile, Futureplay continues to expand its reach into the fast-growing Southeast Asian market by investing in startups in the region, including Indonesian fintech startup Finku.

[Startup News in Korea]

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