RedTable is a Korean startup providing data analysis services for restaurants. It was first established by a group of masters and doctorates from the Sae Jong University, Department of Hotel and Tourism. Recently RedTable secured investments to the scale of US$930k. As revealed by ‘Red Table’, the investment was made by three companies: US$418k from East Gate Partners, US$410k from Angel Investment and the balance from Medium Business R&D.
Red Table was established in 2011 and provides a marketing platform for food service providers. Their services are provided cater for markets in Korea, China and Japan. Users of ‘Red Table’ are provided with nearby favourite restaurants and their menus. The application also allows the user to easily order and pay using their mobile device.
The list that is provided by RedTable is a result of the applications data analysing capabilities. The algorithm is a result of collaboration between multinational masters and doctorates from Korea, China and Vietnam. This algorithm allows relevant data to be analyzed by category, then ranked accordingly. This ability has allowed the team to be recognised through a prestigious award from the Korean Government’s Ministry of Home Affairs.
Do Hae Yong the CEO of Red Table said he wanted to help small businesses that had been negatively impacted by the MERS disease epidemic. The platform was designed to increase restaurant customers by overcoming cultural barriers through the applications ability to support languages in Chinese, Japanese and English.
Seo Sang young a Director of ‘East Gate Partners’ revealed “our decision to invest was based on the potential created by supporting markets in other countries”. He added that “data analysis and the techniques developed by Red Table make it an attractive offer to take to international markets”.
At present ‘East Gate Partners’ is the operator of ‘Daum’s Kakao Youth Establishment Fund’. This fund targets investments into IT businesses, in particular those that have the capability to provide online presence to offline businesses