French startup Taster has pulled out a $ 38 million Series B funding round from Octopus Venture, Battery Ventures, LocalGlobe, Heartcore, Rakuten, GFC and Founders Future. The company operates dozens of restaurants that exist only on food delivery platforms. You cannot book a table because there is no table.
Taster has been focusing on five street food-inspired concepts so far – Bian Dang (Taiwanese food), A Burger (plant-based burger), Mission Saigon (Vietnamese food), Out Fry (Korean food) and Staxando (Japanese Street food). After that, Taster opened dozens of kitchens in 40 different cities and listed their kitchens on food delivery platforms, such as Deliveroo and Uber Eats.
Essentially, the startup wants to build new restaurant chains for the 21st century. Instead of opening brick-and-mortar restaurants, Taster focuses on food delivery because it is still a fast-growing segment. In Paris, the taster restaurant is the third restaurant group on Deliveroo behind McDonald’s and Burger King – it represents more than 5,000 meals per day.
After operating its own kitchen, Taster now wants to partner with existing restaurants, which do not receive too many orders at Deliveroo or UT Eats. Taster brings its own native brands and menus as well as its own technical equipment.
Taster has created its own delivery app for Android and iOS. But you can still find Taster’s restaurants on third-party platforms. The startup does not want to reinforce the wheel and can replace food ordering platforms. But it makes sense to provide their service to end customers directly.
As the taster brand has become more and more familiar, it should generate demand from day one – restaurants can expect revenue of between € 4,000 and € 6,000 during the first week. By 2025, Taster intends to operate in 1,000 cities thanks to this partnership model.