Ritual offers lower-cost service model to hard-hit restaurant sector [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Ritual offers lower-cost service model to hard-hit restaurant sector Hundreds of food service providers have already signed up via the Toronto partnership – Toronto restaurant Saffron Spice Kitchen seen here on May, 25, 2020 – and Ritual is talking to other cities. Christopher Katsarov/The Globe and Mail Hundreds of food service providers have already signed up via the Toronto partnership – Toronto restaurant Saffron Spice Kitchen seen here on May, 25, 2020 – and Ritual is talking to other cities. Three weeks into the pandemic shutdown, Ray Reddy wasn’t sure if his food takeout app provider, Ritual Technologies Inc., would survive . Now, the CEO of what was one of Canada’s fastest growing startups is pitching Ritual as a way to help restaurants and cafés survive. Since mid-March, the Toronto startup has quietly raised US$22-million from existing backers – believed to be at a lower valuation than its US$70-million financing in 2018 – cut half its staff and pulled out of continental
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