Uber Eats acquires SA-based firm orderTalk from Knife Capital
Category: #retail  By Saipriya Iyer  Date: 2018-05-27
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Uber Eats acquires SA-based firm orderTalk from Knife Capital

Uber Eats, an online food ordering & delivery tool introduced by Uber Technologies Inc., has reportedly purchased orderTalk, a South African food restaurant tech company. With this acquisition, Uber has marked the exit of investor Knife Capital, a Cape Town-based venture capital investment firm.

The deal is expected to help Uber Eats restructure its workflow through direct integration with the leading POS network of orderTalk. For the record, Knife Capital has already sold its ownership in firms such as Garmin, Visa, and General Electric.

Earlier, HBD Venture Capital, a division managed by Knife Capital, had helped orderTalk expand its business across the UK and U.S by providing the firm with the required funds. As per estimates, HBD poured in nearly R9 million for orderTalk’s expansion in 2008. A key official of orderTalk has apparently stated that both Knife Capital & HBD offered the firm strategic support, guidance, and assistance for many years in addition to pouring in lucrative investments periodically. 

The acquisition of orderTalk will help Uber Eats access the former’s online ordering software services that make use of mobile & social media applications along with its proprietary remote-ordering software. It has been claimed that the purchase will also help Uber Eats improve its POS integration system and enhance the operations of its 100,000 restaurants set up in 200 cities & 35 nations. 

Keet van Zyl, investment partner at Knife Capital, has announced that orderTalk was the last firm to exit from the R150 million worth HBD Venture Capital Fund which is managed by Knife Capital. He further emphasized Knife Capital to have justified that the systems & technologies developed regionally can have a global reach and that any international company can accrue huge returns on investments from South Africa.

An official statement by Uber Eats claims that the purchase of orderTalk will assist the company in reducing the errors occurring as a result of manual order entry processing.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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