Local Start-Up Wada Bento Achieved a Fresh Round of Funding Accumulated More Than HK$22 Million

HONG KONG SAR - Media OutReach^[1] - 7 September 2022 - A Hong Kong start-up with a new decentralised foodservice platform, "Wada Bento^[2]'' announced the successful conclusion of a fresh round of Pre-A funding, landed over HK$22 million since seed funding. Investors include Golden Resources Development Limited, Cyberport Macro Fund, EthAum Capitals in Singapore, Hong Kong Tech300, Gravity Capital Partners and angel investors. Wada Bento's patented bento machine with hot-chain technology provides quick meal delivery in 17 seconds and touch-free food pickup. It also employs the HaaS (Hardware-as-a-Service) model as its business strategy, offering a one-stop solution for quick expansion in the catering industry. Wada Bento is dedicated to changing the conventional restaurant-oriented service model in the catering industry by expanding its sales channels in a new way at a lower cost. Meanwhile, providing consumers with hygienic, environmentally friendly, hot bentos accessibly.

Wada Bento's brand new hot-chain bento machine with lifting user interface. (From right to left, Wada Bento CEO & Co-Founder Jason Chen, Head of Engineering Dr. Stephen Chan, Chief Engineer Eric Ng)

People's lifestyles have altered as a result of the worldwide pandemic, with more people opting for takeout meals, reducing demand for dine-in restaurants and putting them under intense operational pressure. In view of this, Wada Bento expands its business model by introducing HaaS, which includes hot-chain bento machines, hot-chain logistics technologies and an IoT backend. Wada Bento handles most of the duties, leaving the restaurant to focus entirely on preparing meals. One-stop service enables caterers to widen their distribution networks and offer food directly in institutions including offices, hospitals and schools. The bento machine completely adheres to the current trend of environmental protection and sustainable development. It is designed to be low-energy consumption, in which the power consumption during heat preservation is less than that of a household 1 HP air conditioner. Additionally, Wada Bento's lunch boxes are composed of bagasse, a biodegradable substance. The bento machine not only significantly expands the availability of restaurant catering services and boosts revenue, but it also gives customers more convenient and hygienic options. Wada Bento has added F&B brands such as Café de Coral, Cafe de Beans and Lazy Pot as HaaS partners, moreover, received the MTR's machine certification for the distribution of bento machines and will be entering the MTR stations soon to continuously expand the network of sales points.

Wada Bento's Brand New World's First Hot-Chain Bento Machine with Lifting User Interface

The Wada Bento team has finished the research and development of a new generation of bento machines after introducing the first authorised hot-chain bento machine in Asia. The company has filed for a patent and this year, they will launch the first hot-chain bento machine in the world with lifting user interface which is user-friendly for everyone of different heights. The new bento machine integrates artificial intelligence (AI) and employs non-personal recognition techniques to automatically track and evaluate customer purchasing behaviour. This provides consumers with the most personalised service and optimises the demand forecasts for users while protecting their privacy. Furthermore, the new bento machine features 5G technology, which enables remote monitoring and preventive maintenance, significantly reducing failure rate and boosting customer satisfaction.

Actively Establishing Massive Global Business Possibilities after Pre-A Funding Completed

Investor interest in Wada Bento's innovative technology advancements remains significant. Currently, Pre-A funding was accomplished with accumulative funding of more than HK$22 million. Wada Bento will actively develop further international markets in addition to continuing to expand its Hong Kong business. According to Jason Chen, CEO and Co-Founder of Wada Bento, "Decentralised catering services will emerge as a new trend in the global catering business. Wada Bento is dedicated to decentralising the traditional catering sector, which concentrated on restaurant sites. Leveraging our patents, the hot-chain bento robot converts office buildings, schools and hospitals into mini-restaurants, allowing consumers to purchase fresh, appetising, hygienic and hot meals in 17 seconds." Wada Bento has now landed in Circle K in Vietnam. In the fourth quarter of this year, a Japanese bento chain group will also implement Wada Bento's proprietary hot-chain technology. Besides, Wada Bento has also opened a branch in Hengqin, Zhuhai and is prepared to expand into the active market in the Greater Bay Area.

Hashtag: #WadaBento

References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} Wada Bento (wadabentotech.com)