NTT DoCoMo secures 40% stake in Japanese restaurant reservation platform Toreta

NTT DoCoMo secures 40% stake in Japanese restaurant reservation platform Toreta

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See the original story in Japanese.

Japanese mobile telco NTT DoCoMo (TSE:9437) has secured a capital and business tie-up with Toreta, the Japanese startup offering a reservation and customer management platform for restaurants under the same name.

The telco invested 3 billion yen ($27.2 million US) in the startup this time around, which brings the latter’s total amount raised to date to 6.13 billion yen ($55.5 million US). Through this deal, NTT DoCoMo has secured a 39.7% stake in Toreta by the $27.2 million cash injection as well as buying shares from existing investors for an undisclosed sum.

By launching a new service allowing restaurants to take reservations and orders as well as receiving payments in mid-2019, the two companies will promote the telco’s mobile payments and rewards redemption service. Prior to this investment, the telco’s VC arm participated in a $12 million investment in the startup back in September of 2016.

Toreta was launched in December of 2013 by Hitoshi Nakamura who has founded multiple food related online businesses. Having successfully acquired almost 1,000 restaurants as users within six months since the launch, the company’s user base hit 12,000 as of November of this year. CEO Nakamura has been aggressively promoting digitalizing food businesses through launching a conference called Foodit Tokyo.

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Translated by Masaru Ikeda