OMAK Technologies bags Angel Network funds
Yesterday Sri Lankan IT company OMAK Technologies finalized funding, allowing the company to expand its business across South Asia by way of strategic partnerships, while also adding new features to its existing range of solutions. OMAK says the funding came about entirely from the membership of the Lankan Angel Network and the Indian Angel Network, which has already given mentorship, networking and other forms of support in the past to help OMAK Technologies meet their goals. In addition to successfully raising additional funds through Angel Networks, OMAK Technologies was recently hailed by Echelon Magazine as one of Sri Lanka’s most promising start ups.
OMAK Technologies develops customized software for varying aspects of restaurant management and operations. The company acquired its most recent funding following its first runner-up finish at this year’s Venture Engine, the entrepreneurial competition sponsored by the Lankan and Indian Angel Networks along with Blue Ocean Ventures. OMAK Technologies says the competition directly resulted in 18 Venture Engine-linked angel investors committing to invest in the company and its product portfolio, which includes its VDine Software-as-a-Service (SaaS) solution.
OMAK describes Vdine as an “all-encompassing restaurant managing system that minimises costs, reduces wastage and does away with mismanagement while, at the same time, boosting sales, increasing profitability and creating a streamlined and efficient operation with strong customer relationships.”
Commenting on its relationship with the Lankan Indian Angel Networks, OMAK Technologies Chief Executive Officer, Ehantha Sirisena, highlighted the myriad benefits, aside from funding, that the networks of angel investors have brought to his business, “As our focus now shifts to new markets and new features, we are even more delighted with our partnership with the Lankan and Indian Angel Networks, especially since we will increasingly have to rely on the wide experience, expertise and business connections now available to us through their respective high-profile, regional membership.”
Sirisena said that his company was additionally pleased to announce the launch of a new offering, a Sri Lanka-focused table reservations portal that is also accessible to eateries that are not currently using the VDine Restaurant Management System. He added that the system is a completely web-based solution for restaurants that allows customers to be added to a wait list.
Senior Advisor for Stax Inc., and a member of the Lankan Angel Network, Arj Wignaraja, added, “Considering the innovativeness and far-reaching implications of the VDine platform and other products created by them, we are very happy with our choice to partner with OMAK Technologies, especially considering its capacity to possibly revolutionise restaurant management and operations in Sri Lanka and, going forward, South Asia.”