Category: Coronavirus
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Restaurant tech startup Bbot announced today it has closed a $4 million seed extension funding round, bringing its total funding to $7.3 million. The seed extension round was led by Rally Ventures with participation from existing investor Craft Ventures, according to a press release sent to The Spoon. The round follows Bbot’s $3 million fundraise…
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This is the web version of our weekly restaurant tech newsletter. Sign up today to get updates on the rapidly changing nature of the food tech industry. The “next-generation” restaurant format isn’t new, as QSR brands like Dunkin’ and McDonald’s can attest. But the restaurant industry’s sudden and in many ways irrevocable shift to off-premises formats in…
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The fourth quarter of 2020 was bad for restaurant sales, with December being “the worst month” since July, according to the latest data from Black Box Intelligence, which shared the information in its monthly Nation’s Restaurant News update. By December, same-store sales growth fell to -13.3 percent year over year, while same-store traffic growth clocked…
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Deliveroo announced this week it has raised over $180 million in Series H funding from existing investors. The round was led by Durable Capital Partners LP and Fidelity Management and Research Company LLC. With it, Deliveroo is now valued at over $7 billion, according to an official company statement. The new funds come ahead of…
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This is the web version of our weekly restaurant tech newsletter. Sign up today to get updates on the rapidly changing nature of the food tech industry. When it comes to talking about the year 2020, one of the things third-party delivery services like to say is that they were “a lifeline” for restaurants that might have…
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Kitchen United will expand its ghost kitchen network significantly in 2021, the company said during a talk at this week’s ICR conference (h/t Restaurant Dive). Michael Montagano, KU’s CEO, said he expects the company to grow its number of locations from its current four to 20 by the end of the year, which would equal…
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Yelp users will now be able to provide feedback on restaurants’ COVID-19-related health and safety practices, according to a company blog post from this week. Effective now, Yelp will display if users observed — or did not observe — practices like social distancing and the wearing of masks at restaurants and other businesses. The information…
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The restaurant industry closed 2020 by “moving its way out of the steepest declines the industry has experienced since the Great Recession,” according to a new update from The NPD Group. Restaurant transactions in December 2020 were down 10 percent compared to the same period one year ago. However, that figure is a 27-point improvement…
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Nimbus, a commercial kitchen space for food businesses of all types, is set to officially open on January 11 in New York City. With it, the company’s founders, entrepreneurs Camilla Opperman and Samantha Slager, aim to provide a space for restaurants struggling from both the pandemic and high cost of rent in NYC. To learn…
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One thing the restaurant industry has in abundance right now is underutilized kitchen space. A lot of that extra space unfortunately exists because of widespread restaurant closures that are permanent. The small silver lining here is that some of that space is actually getting repurposed for the restaurant biz as ghost kitchens and virtual brands…
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PepsiCo recently announced the launch of “Dig In“, a consumer-facing platform aimed to highlight the importance of supporting Black-owned restaurants throughout the U.S. The platform will offer increased visibility, business support, training, and mentorship to restaurants. Over the next five years, Pepsi aims to raise $100 million for local restaurants through these different support channels.…
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Welcome to our weekend wrap-up of food tech news from around the web. Happy New Year! I am excited to both say goodbye to the most bizarre year of my life and share some Food Tech News with you. This week, some news pieces that stood out to us included a new accelerator program for…
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