Manila-Based F&B Startup Mosaic Solutions Bags P282 Million in Series A Funding
Manila-based food-tech startup Mosaic Solutions secured $5 million (P282 million) in its Series A funding round led by Kickstart Ventures, along with returning investors Gentree Fund and Investible. According to Crunchbase, this marks Mosaic Solutions’ fifth funding round, bumping up the startup’s total funding amount to $9.1 million.
Mosaic Solutions supports Southeast Asia’s F&B sector by providing cloud-based solutions for data analytics, inventory management, points of sales, and profit optimization. The startup defines itself as an all-in-one restaurant management system for restaurant groups, cloud kitchens, hotels, retailers, and more. With its latest round of funding, Mosaic Solutions will use its resources to develop and refine its cloud-based platform and expand its user base in the Philippines.
As the F&B sector recovers from the pandemic, Mosaic Solutions aims to be at the forefront of the long-term digital transformation of the restaurant industry. The pandemic accelerated the F&B sector's acceptance of omnichannel growth, and Mosaic Solutions aims to take this a step further by helping food businesses with revenue optimization, margin improvements, and understanding of consumer behavior.
“We are excited to receive this funding as it allows us to continue our product innovation and support the digital transformation of the F&B industry. We will continue to enhance the platform for our current customers in the Philippines and drive expansion in Southeast Asia. As we come out of the pandemic, it is crucial to help this industry maximize efficiency and reduce costs to help business recover and thrive,” said Brett Doyle, CEO and founder of Mosaic Solutions.
While food delivery tripled in growth during lockdown, the food service sector took a hit but the market is expected to grow by eight percent over the next five years, hopefully outgrowing pre-pandemic revenues of $15 billion in 2019.
“As the pandemic has clearly demonstrated, digital solutions are no longer ‘nice-to-haves’ but essential to the survival of companies and SMEs. Our investment out of the ACTIVE Fund is a commitment to the future of transactions, one where we see Mosaic Solutions taking the lead in restaurant operating systems in the Philippines, with the potential to expand to other markets in Southeast Asia,” said Minette Navarrete, President of Kickstart Ventures.
“Mosaic’s superior product has won over some of the country's leading restaurant groups through the robustness of their product as a key differentiator in the market. We look forward to adding value to Mosaic’s growth not only through our initial investment, but also through powerful channel partners within Ayala Corporation and its subsidiaries.”
Some of Mosaic Solutions’ clients include Wildfour, Conti’s, Barcino, Single Origin, Mary Grace, Omakase, The Moment Group, and more.
"Gentree is pleased to support Mosaic on this next step in their journey. We are excited by the vibrancy the end of the pandemic measures has brought to the F&B sector. Mosaic continues to contribute to the digitalization of this sector and has benefited from strong merchant interest in their products. We look forward to an expanded range of offerings catered towards solving the needs of Filipino F&B merchants,” said Mark Sng, VP of Investments of Gentree Fund.
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