MadEatsY Combinator alum, claims to be the first “full-fledged” start-up in the Philippines, “with its own direct stores, ghost kitchens and a fleet of drivers. , they also think and start their own names, making them a restaurant group only.
The company announced today that it has raised $ 1.7 million in seed funding led by JAM Fund, Crystal Towers Capital, Starling Ventures, MAIN and Rebel Fund.
Launched in November 2020, MadEats now has three ghost kitchens: each located in Makati, Quezon City and the City of Manila. They aim to cover much of Metro Manila north, and eventually open physical stores, too.
Prior to the founding of MadEats, CEO Mikee Villareal told TechCrunch that the team worked for some restaurant groups in the Philippines, initiating, managing and working on more than 20 restaurant ideas. “At the beginning of the disaster, we were asked to operate these restaurants to be delivered due to the strict quarantine restrictions,” she said. “Consumer concepts have been greatly affected and we have seen the need for our business.”
She added that ghost kitchens have a different value structure than traditional restaurants, giving the team the freedom to create more product-friendly ideas.
MadEats currently has six variants and is expanding its portfolio: Yang Gang (Korean fried chicken); Chow Time (Chinese take); Nice fries (fried rice); Coffee spot; MadBakes (experimental kitchen for dessert), and MadMakes for high demand, corporate packages and cooked meals. The company has now added a variety of ingredients, including burger chips and Japanese food.
MadEatsOS, its subsidiary component, is what makes the MadEats system scalable. It includes a direct order path system that ensures orders are executed at the nearest location, and analysis showing the types and ingredients of the food that works best.
The company has its own MadEats riders and as demand increases, it also works with third-party logistics providers. It is available on third-party platforms like GrabFood and Foodpanda, but Villareal claims that more than 50% of its orders come from its platform, Madeats.co.