Silentmode secures US$582k funding from ADIF for its F&B based mobile POS
By Digital News Asia August 16, 2017
- Cloud based Slurp! allows various F&B ecosystem players to connect
- Appoints Lau Shi-Ying, former Head of GrabCar, Malaysia, as director of strategy
SILENTMODE Sdn Bhd the developer of Slurp!, a cloud based point-of-sale system (POS) that specialises in the food and beverage (F&B) industry sector announced it has recently closed a Series A round of US$582,000 (RM2.5 million), led by Axiata Digital Innovation Fund (ADIF).
Silentmode, which launched Slurp! into the F&B retail market in 2014 plans to use the funding to accelerate sales and marketing, grow its team as well as explore regional markets in 2018.
Reza Razali, CEO and cofounder of Silentmode said, “We are thrilled about the funding. Our team has been working very hard to make our homegrown POS system, Slurp! an effective solution for owners of F&B retail businesses. As we push forward, it is crucial for us to have a strong support system and we are grateful that ADIF and Intres Capital Partners have put their trust in us.”
Intres Capital is a Kuala Lumpur venture capital firm managing the US$18.6 million (RM80 million) ADIF fund which was launched in Nov 2014 targeting a RM100 million fund size. [US$1 = RM0.23]
Kamarul Nizam Kassim, partner of Intres Capital who sits on the Silentmode board expressed his confidence that focusing on F&B retail will differentiate Slurp! from other POS players. “Slurp! provides powerful data analytics presented in a very user-friendly interface to help F&B proprietors maximise revenue, optimise costs, spot hidden operational inefficiencies and identify new F&B trends, which ultimately keep customers coming back,” he says.
As part of its growth plan, Silentmode has appointed Lau Shi-Ying, former Head of GrabCar, Malaysia, as Director of Strategy and Partnership. Shi-Ying brings with her more than eight years of global experience in consulting and technology with Reza confident that Shi-Ying will lead the local and regional expansion as well as partnership programme to the next level.
As of Aug 1, 2017 over 500 F&B outlets in various cities in Malaysia have used Slurp! The aim to at least double that number by year end.
Besides Malaysia, Silentmode has already a presence in Singapore through a strategic partnership and it is currently eyeing a bigger expansion within the region.
“We have been actively generating feedback from our customers and that helped us to turn Slurp! into a specialized POS system that is meant to address many challenges of managing F&B outlets especially on matters such as outlets operations, inventory management, table layout management and staff productivity management. Owners get to monitor their F&B performances remotely and on real-time by using our analytics dashboard. Collectively, these have set us apart from many POS systems in the market,” Reza adds.
Slurp!’s open architecture and cloud based platform allows it to connect with various partners within the F&B ecosystem to support F&B proprietors grow their business such as restaurant aggregator sites and food delivery service providers.