The state of food tech

The convenience of ordering your food online may be unmatched, but most food ordering platforms are preparing for tough times ahead.

LunchBox, the all-in-one online ordering and guest engagement system that markets itself as a data-driven anti-Grubhub, launched its second iteration today, following some post-pandemic scrutiny. Founder Nabeel Alamgir, a Forbes 30 under 30 honoree, called it the company’s “biggest leap forward.”

LunchBox first launched on the cusp of the pandemic and gained well-known clientele like Clean Juice and NYC-chain Bareburger, where Alamgir once served as a busboy and later its CMO.

The startup faced layoffing off about a third of its team earlier this year. But LunchBox isn’t alone as many question the post-pandemic future of food tech companies. DoorDash and Uber Eats have both come under scrutiny for their unprofitable business models, and investors are getting frustrated. Startups like ChowNow are also grappling with the consequences. VC funding in food tech is down 21.5%, and deals have declined by 33%.

Alamgir isn’t afraid to admit some missteps. Following layoffs, he told Business Insider, “We are all drunk on VC capital… Everyone was playing the same game, which is growth at all costs."

Initial response from the community on today’s launch has been strong. “All in one ordering” now includes a customer marketing CRM, robust reporting, catering, order aggregation, and a “Starbucks level” loyalty program. With the latter, restaurants can increase their customer base and reward them with birthday rewards, in-store rewards, and bankable points.

A month ago, LunchBox also launched Open, a tool that gives restaurants access to major integration partners like Toast and Doordash for ordering, processing, POS, and delivery features. In June, LunchBox Essential launched to offer mom-and-pop restaurants a commission-free online ordering system.

With all of these offerings, Alamgir and team hope to empower restaurants to elevate their digital experience and grow revenue. Do you think LunchBox’s approach will set them apart in the food tech space?

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