Tenmou-backed ‘eat’ raises US$300,000 in second round of funding and launches consumer app

: Saturday, January 31 – 2015 @ 13:28

Tenmou, the Kingdom’s First ‘Business Angels’ company today announced that, eat – an app that allows users to create restaurant reservations online, has raised US$ 300,000 in a second round of funding. With this additional capital, eat has raised a total of $400,000.

Eat is a real-time reservations system for fine-dining restaurants. Eat has products for both restaurants and diners. For restaurants; eat supplies an iPad application that manages table reservations with simple floor planning features, records customer history and preferences, and provides a tool to publish targeted promotions and discounts. For diners; eat supplies an iPhone application that allows users to discover restaurants around them, find available tables, and confirm reservations instantly. The iPhone is linked with the iPad, and reservations are communicated with the restaurant in real-time.

Eat’s iPad application has already been installed at over 30 percent of Bahrain’s fine dining venues including hotels and boutique restaurants, and has seated 200,000 guests in Bahrain since its launch in March 2014. Some clients include The Gulf Hotel, Mirai, La Vinoteca, and The Orangery to mention a few. Eat has announced the launch of it’s iPhone application in Bahrain which is downloadable today through www.eatapp.co. Hasan Haider, CEO of Tenmou and Nezar Kadhem CEO of eat, made the announcement at a media roundtable event held at the Crowne Plaza Hotel, Bahrain.

Commenting on the additional capital announcement, Mr. Sami Jalal, the Chairman of Tenmou said: “We are proud that ‘eat’ has secured the second round of funding which will facilitate the expansion of it’s business into the other GCC countries. We are confident that the app will further gain popularity amongst Bahraini food lovers with the launch of its services to consumers and help to take its services to the other GCC markets and beyond. This additional investment underscores our belief in digital entrepreneurship and that this is an incredible opportunity for ‘eat’ to help position Bahrain as the leader in innovative apps in the hospitality industry.

“The Middle East is still in the early stages of Internet adoption, and we’re determined to push the boundaries. It’s a very exciting time to be here” says Nezar Kadhem, CEO of Eat “These next 18 months are going to be critical for growth and this funding allows us to hire and ensure our momentum keeps growing”

Nezar continued by saying that he noticed that convenience services, like Open Table, were simply non-existent in Bahrain and most cities in the GCC. “Even the most prestigious fine-dining venues were still using Pen and Paper, and traditional methods to manage their reservations.”

Hassan Haider, Chief Executive Officer of Tenmou, said: “Since investing in ‘eat’ less than a year ago, we have seen the business go from strength to strength. With this additional capital, ‘eat’ will be able to expand into Kuwait, Abu Dhabi and Dubai where we hope to see it achieve great results.”

With a start-up capital of BD1 million (US$2.7 million), Tenmou was established in 2011, and invests an average of BD20,000 (US$53,000) for a stake of on average 20% in each project that meets its criteria, and will provide a three-month mentorship period, including support services, at no cost to the entrepreneurs.

For further press information on Tenmou please contact :
Neena Punnen
Hill + Knowlton Strategies
Tel: +973 17533532
Fax: +973 17533370
e-mail: [email protected]