
British Columbia-based food delivery service, Fantuan, has acquired Chicago-based Chowbus for an undisclosed amount, as reported by Betakit. Both companies are in the food delivery business, offering meal delivery through their mobile apps, with a particular focus on the Asian food delivery market. News of the acquisition comes just over a month after Fantuan closed a $54.3 million CAD Series C funding round, which was co-led by GrubMarket and Celtic House Asia Partners.
According to a news release by Fantuan, Chowbus will focus on optimizing its restaurant Software-as-a-Service and Point of Sales business following the acquisition. The goal of the acquisition is to establish a synergistic partnership with enhanced resources to improve the experience of its users. The partnership is also an opportunity to promote Asian food culture, with diverse offerings. With over 120,000 Asian restaurants in the United States, market research indicates that the Asian restaurant market in the US is expected to exceed $230 billion USD by 2030. Despite the popularity of Asian cuisine, Asian-owned restaurants have faced challenges due to cultural and language barriers, which the collaboration seeks to address.
Fantuan was founded in Vancouver, Canada in 2014 and currently operates in major cities across North America, Australia and the United Kingdom. The company placed ninth on Deloitte Canada’s Enterprise Industry Leaders list this past year, being recognized for their “bold vision for the future [and] impactful technologies” catapulting “Canadian innovation forward”.
Author: Olivia Moon
Photo Credit: istock.com/Atstock Productions.
Authors
Expertise
Insights
-
Technology
Nectir Launches Custom AI Tool to Transform Learning in Schools
Nectir, an educational AI tool, is transforming academic support at over 100 colleges and high schools by enabling educators to create personalized learning assistants tailored to their courses. These… -
Technology
PolicyMe Raises C$30 million to Revolutionize Digital Insurance
PolicyMe, a Canadian digital insurance provider, recently announced the successful close of C$30 million in new funding, building off of its C$3.3 million Seed Round (2020) and C$18 million Series A… -
Energy
Supreme Court of Canada Interprets the Telecommunications Act
In Telus Communications Inc. v. Federation of Canadian Municipalities, the Supreme Court of Canada considered the correct interpretation of the term “transmission line”, as used in sections 43 and… -
Technology
Twelve Labs Develops Enhanced Search Capabilities in Video AI
In the fast-evolving field of artificial intelligence, a new frontier is emerging: video understanding. Jae Lee, co-founder of Twelve Labs, believes that AI models adept at interpreting videos as well… -
Technology
LED Me Be: The Busy Bar Tells Your Coworkers You’re Tied Up
Have you ever been in an online meeting with your headphones on, and wished that your coworkers could read your mind and stop coming to your desk with questions? The team at Flipper Devices know this… -
Technology
Lights, Camera, Cycle: Garmin’s New Headlight Records While You Bike
Garmin is levelling up its biking equipment with Varia Vue, a headlight equipped with a front-facing, video-recording camera. The technology is similar to the “dash cam” feature for vehicles. While…