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Rumor: Online Food Ordering Platform Yi Tao Xingkong Wins USD 6 Mln Funding

36Kr, 7/26/13

According to industry sources, Beijing-based Yi Tao Xingkong Network Technology, operator of online food ordering and table reservation site Etaoshi.com, has confirmed that the company has landed USD 6 mln in first-round funding from an unnamed investor. Yi Tao Xingkong will use the capital to fund the development of its newly released Etaoshi food ordering management system and to expand the site's business beyond the city of Beijing.

Etaoshi.com is an online to offline (O2O) platform that started as a food delivery service. However, since many Etaoshi partners specialize in meals that are difficult to deliver, such as hot pot, barbecue, and buffet-style meals, the platform eventually expanded its services to include food ordering and table reservation services. On the food ordering and reservation section of the website, users can browse Etaoshi's collection of restaurant menus, order meals in advance from a particular restaurant, and even pay for meals online before arriving at the restaurant.

In order to guarantee that an order is ready by the time the customer arrives, the Etaoshi development team is currently working on a unified food ordering management system that integrates the relevant hardware and software involved in the food ordering and payment processes. The devices and systems involved include cash registers, cashier systems, food ordering systems for wait staff, food ordering Android-based tablet devices, meal preparation systems for kitchen staff, and room reservation systems. Etaoshi is also assisting many restaurants in developing food ordering systems based on Tencent's (0700.HK) WeChat (Weixin) mobile messaging application. Etaoshi's R&D team consists of approximately 40 software engineers divided into teams of three to four individuals.

Keywords: Yi Tao Xingkong Etaoshi e-commerce Internet funding first-round fresh food

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