Ukrainian Yaroslav Tsyhanyenko, founder of the startup Pickpad, based in Chicago (USA), announced the acquisition of $200,000 in investments from the Singaporean venture fund Antler. This startup is developing an innovative “smart” board for order taking in food establishments, which operates using sensors and machine learning technologies.
This is reported by Business • Media
The raised funds are intended to be directed towards launching pilot projects, improving the product, and establishing partnerships with restaurants. According to Tsyhanyenko, this technology can solve a problem that costs over $100,000 for approximately 400,000 food establishments in the USA, ranging from fast food outlets to mid-range cafes. “Overall, this is a problem worth about $40 billion,” he noted.
How the Pickpad System Works
The Pickpad system is built on a specialized platform where cafes and restaurants can post information about ready-to-eat food and beverages for customers to access. Currently, there are two stations operating in Chicago: one at Soloway Coffee and the other at the local chain Dollop Coffee. According to the founder, the platform will be offered as part of a comprehensive package that includes equipment, technical support, software, and all necessary resources to launch the system in the establishment.
“We are solving a problem that costs over $100,000 for 400,000 food establishments in the USA (from fast food outlets to mid-range cafes). This is overall a $40 billion problem,” states the startup founder, Yaroslav Tsyhanyenko.