Photo - WARP Innovations
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WARP Innovations

Platform to preview dishes using AR

UAE
Market: Virtual and Augmented Reality
Stage of the project: Prototype or product is ready

Date of last change: 26.02.2020
Min investment
$  150.000
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Total required
$ 350.000
Rating
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Idea

Idea is to have a ultimate platform which allows customers of restaurants to preview their dish in AR, place order through the app instead of calling waiter and pay immidiately through the app. The platform will allow restaurants to work more efficiently and gather stats about customers behaviour and customers will get better quality experience and better understanding of cuisine and what they want to order

Current Status

We have ready product which we are launching currently in middle east market

Market

Our product has potential to be global. But the better fit is Western Europe, Middle East and North America cause these areas have developed countries where people are using better phones. For successful work of AR technology users must have good quality phones.
As for the age we believe that almost all adults from 18 to 55 are potential users for this app
As for the restaurants it will not be a good fit for fast food chains or small coffe shops but it's good for all middle class and elite restaurants.

Problem or Opportunity

Problem is that while visiting new restaurants or trying new cuisines we may face issue with what to order and lot of times it can bring disappointment and eventually poor dining experience. Also tourists and people who dont speak local language face the same issues

Solution (product or service)

Our solution is mobile platform for restaurants which allows customers to preview and order dishes using Augmented Reality.

Competitors

There are only 2 similar projects in the world.
Kabaq- they were only showcasing dishes with no other functions, they have 11 restaurants total and we think they stopped further development
AR menu- Russian based company. They have 150 restaurants across 4 cities in Russia. They have good functions but poor UX/UI and poor quality of dishes

Advantages or differentiators

High quality of 3d models( we adding all possible effects to make dishes look realistic)
Easy to understand UI
User profile where you can rate restaurants, dishes, list your allergies
Feature to place order through the app or split the bill between group of people
Customer stats for restaurants

Finance

Our financial model is charging restaurants for
1. One time connection fee
2. Creation of 3d models
3. Putting restaurants on top of the app search

Business model

Our business model is based on connecting restaurants who pay for connection
For users platform is 100% free.
We are looking to start first in middle east countries with aim to move our business to US

Money will be spent on

We need investments mostly for marketing, to expand faster. But also we looking to hire few more developers to our team to work on new features of the app.

Offer for investor

Investments in exchange for equity. Should be discussed individually

Risks

Main risk is that despite fast growth of AR technology-lot of people still dont know much about it and it is still a bit raw
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
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