Aigens, a Hong Kong-based food and beverage (F&B) industry innovator bringing omni-channel ordering solutions to Asia, announced Monday it has raised over $14 million Series A funding as it looks to accelerate its expansion across asia pacific (APAC) and help more restaurants digitalize and enhance their competitiveness.

Investors in this Series A round include lead investor Ant Group, as well as Velocity Ventures, Phillip Private Equity and Prizm Ventures, Aigens said in a statement on Monday.

Aigens plans to use its Series A funding to further expand its footprint in APAC and enhance its solution offerings to support restaurants and diners in the post-pandemic ‘new normal’.

The company will step up recruitment efforts to boost the sales, product development, operations and partnership teams for seamless execution.

In addition, it will develop leading-edge solutions and expand to new verticals such as hospitality, to embrace market opportunities in the future.     

“After a decade at the forefront of F&B digitalization, now is the perfect time for Aigens to scale and take advantage of the sector’s growing appetite for digital experiences,” said Hans Paul, Co-Founder and Chief Executive Officer of Aigens.

According to him, the Covid-19 pandemic, in particular, has caused an exponential surge in the adoption of restaurant technology.

“We grew from less than a thousand outlets to 4,000 outlets in just two years. This exponential growth has convinced us that there is so much potential in both the industry and the APAC market,

“We are delighted to have the endorsement and support of Ant Group and our other investors as we continue to help thousands of F&B outlets across the region engage with their customers and operate with more insight and control,” he added.    

Founded in 2012 with the aim to digitize F&B with mobile ordering and payment, Aigens was the first to introduce QR code ordering technology to Hong Kong, Singapore and Malaysia.

The company operates in 14 markets and serves more than 4,000 restaurant outlets, including global and regional names like Jollibee Group, Burger King, Starbucks, Shake Shack and Pizza Hut.

Aigens now processes over $1.5 billion gross merchandise value) and 140 million orders annually.

“We are thrilled to be backing Aigens, and have every confidence that rapid growth is on the menu. Many of F&B’s leading players are fuelling their post-pandemic recovery by seeking ways to improve the customer experience while overcoming manpower shortages and saving costs,

“Aigens has shown that it has the technical expertise and market knowhow to help restaurants in APAC overcome their challenges through digital solutions,” said Nick Cocks, Managing Partner of Velocity Ventures.

The Hong Kong-headquartered company currently has 120 staff in six offices globally, providing omni-channel ordering solutions for over 500 brands in the F&B industry, including but not limited to mobile software and delivery aggregation.

Powered by the successful Series A fundraising, it plans to further establish local teams in its operating markets to provide additional support to F&B businesses across the region and help them deliver enhanced customer experience.

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