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Wednesday, 2 November 2016 00:01 - - {{hitsCtrl.values.hits}}
The OMAK team at the recent Franchising and Licensing Asia trade show in Singapore
A regional leader in restaurant management solutions, OMAK Technologies, is gearing up for aggressive push into ASEAN markets, having secured Rs. 85 million in investments.
This new round of investment was led by BOV Capital, a Sri Lanka- and Singapore-based venture capital firm that invests in Sri Lankan technology-oriented ventures looking to grow regionally or globally.
With its start in Sri Lanka in 2012, OMAK Technologies is a fast-growing restaurant management solutions provider operating a SaaS (Software as a Service) model. Its flagship offering, OMAK POS 360, is a fully integrated suite of solutions that covers all aspects of a restaurant’s operations, from increasing revenues, to minimising costs and identifying unnecessary wastage. To date, OMAK Technologies solutions are currently deployed at a number of F&B outlets in Sri Lanka, Indonesia, Maldives and Australia. OMAK Technologies also holds the honour of having been recognised as the ‘Hottest Sri Lankan Start Up’ in 2015 by Roar.lk and was the first runner-up at Venture Engine 2014.
OMAK Technologies CEO Ehantha Sirisena said: “Having secured significant funding, OMAK is all set to aggressively grow its footprint across South East Asia. We are particularly excited that a well-known regional player like Singapore- and Sri Lanka-based BOV Capital believes in us so strongly that they have singled us out for both investment and advice, aiding us in many ways in our regional and global expansion plans.”
BOV Capital’s commitment to the evolution of OMAK Technologies fulfils the venture capital firm’s mission to invest in Sri Lankan ventures focusing on technology-oriented exports. In fact, BOV Capital’s stated purpose has always been to empower trailblazers who inspire, with the core idea being to invest in extraordinary entrepreneurs and unique technologies geared to re-define the next era of innovation, growing them internationally.
BOV Capital General Partner Prajeeth Balasubramaniam said: “OMAK Technologies and Ehantha and his team are smart and dedicated, with the drive to achieve impressive results. Their hard-won successes in large markets like Indonesia are a testament to their versatility and commitment. My partners, Eric Wikramanayake and Rajan Anandan, and I are pleased to be able to invest in this success story, helping them in any way possible for their continued success and growth in ASEAN and beyond.”
