Tokyo-based startup Dinii has successfully raised ¥7.5 billion ($52 million) in a Series B round led by Chinese billionaire Zhang Lei’s Hillhouse Investment Management and U.S. venture capital firm Bessemer Venture Partners. This marks the first startup investment in Japan for both Hillhouse and Bessemer. Other investors in the round include Eclectic Management, an affiliate fund of OpenAI backer Thrive Capital.
Dinii, founded six years ago, provides cloud-based restaurant management software that enables mobile ordering and offers a platform for restaurant operators to manage orders, analyze sales, and track customer preferences. The company recently introduced a cashless payment processing feature and plans to expand its products to create a comprehensive platform for restaurant operators. In addition to launching an employee shift and payroll management feature by the end of the year, Dinii also has plans to expand to other Asian markets such as Indonesia, the Philippines, Vietnam, and India over the next one to two years.
The founder and CEO of Dinii, Mao Yamada, expressed the company’s dedication to becoming a world-class company that showcases the best of Japan’s industry and culture on a global scale. Yamada, a dropout from the University of Tokyo, started Dinii in 2018 after identifying inefficiencies in the restaurant industry during his part-time work. Many restaurants in Japan still rely on on-premise machines for orders and payments, which can be costly to set up and limit customer accessibility. Dinii currently serves thousands of restaurants, including Tsukada Nojo, a popular Japanese hotpot chain.
Hillhouse Investment Management, known for its investments in Chinese tech giant Tencent and e-commerce giant JD.com, has also invested in other startups like logistics unicorn Lalamove and AI-powered drug discovery company Insilico Medicine. Bessemer Venture Partners, an early investor in companies like Linkedin and Pinterest, has backed Hong Kong travel booking startup Klook. The valuation of the Series B round was not disclosed by Dinii.
With the new capital injection, Dinii plans to continue expanding its product offerings and establish itself as a one-stop platform for restaurant operators. By introducing features like employee shift and payroll management, the company aims to streamline operations for its customers. Additionally, the startup looks to extend its reach beyond Japan to other Asian markets in the near future, aiming to compete on a global scale. Yamada emphasized Dinii’s commitment to showcasing the best of Japan’s industry and culture through their innovative technology solutions.
Overall, Dinii’s successful Series B round, led by prominent investors like Hillhouse Investment Management and Bessemer Venture Partners, highlights the growing demand for cloud-based restaurant management software in the Asian market. With plans to expand its product offerings, enhance its platform for restaurant operators, and enter new markets, Dinii is poised for continued growth and success in the coming years.
