29/01/2015 06:43 AST
Tenmou, Bahrain's first 'Business Angels' company, yesterday announced that 'eat' '“ an app that allows users to create restaurant reservations online, has raised $300,000 in the second round of funding.
With this additional capital, 'eat' has raised a total of $400,000.
'Eat' is a real-time reservations system for fine-dining restaurants.
For restaurants, 'eat' supplies an iPad application that manages table reservations with simple floor planning features, records customer history and preferences, and provides a tool to publish targeted promotions and discounts.
For diners, 'eat' supplies an iPhone application that allows users to discover restaurants around them, find available tables and confirm reservations instantly.
The iPhone is linked with the iPad, and reservations are communicated with the restaurant in real-time.
Eat's iPad application has already been installed at more than 30 per cent of Bahrain's fine dining venues including hotels and boutique restaurants.
It has seated 200,000 guests in Bahrain since its launch in March last year.
Clients include the Gulf Hotel, Mirai, La Vinoteca and The Orangery.
'Eat' has also announced the launch of its iPhone application in Bahrain which is downloadable through www.eatapp.co.
Tenmou chief executive Hasan Haider and 'eat' chief executive Nezar Kadhem made the announcement at a media roundtable held at the Crowne Plaza Hotel.
Mr Kadhem said the next 18 months would be critical for growth and the funding allowed the business to hire and ensure the momentum kept growing.
He said when he started it was a surprise to find that even the most prestigious fine-dining venues were still using pen and paper, and traditional methods to manage their reservations.
'The Middle East was still in the early stages of Internet adoption, and we are determined to push the boundaries,' he said.
According to Mr Haider, the additional capital would enable 'eat' to expand into Kuwait, Abu Dhabi and Dubai.
Tenmou chairman Sami Jalal said the additional investment underscored the seed funding provider's belief in digital entrepreneurship and in helping position Bahrain as the leader in innovative apps in the hospitality industry.
With a start-up capital of BD1 million ($2.7m), Tenmou was established in 2011, and invests an average of BD20,000 for a stake of on average 20pc in each entrepreneurship project that meets its criteria.
It also provides a three-month mentorship period, including support services, at no cost to the funding recipients.
Gulf Daily News
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