New York-based growth equity company Rellevant Partners has agreed to invest in Texas-based Tso Chinese Takeout & Delivery (Tso).
The companies have not disclosed the financial details of this deal.
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Established in 2016 by Min Choe and Angell Tsang, Tso is a take-out/delivery-only brand that serves made-to-order and affordable Chinese American food items in a contemporary setting.
It currently operates four delivery/take-out stores across Austin, with various units scheduled for launch.
Tso offers online ordering, free delivery and a strict no-tipping policy for its customers.
Min Choe said: “The Chinese food category holds immense significance within American cuisine.
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By GlobalData“Tso has revolutionised the industry by incorporating proprietary technology and innovative approaches to deliver unmatched convenience while staying true to timeless recipes. The result is a scalable and endearing concept that evokes fond memories of cherished mom & pop establishments.
“We are thrilled to partner with Rellevant as we expand our footprint and our reach to bring our authentically Chinese American cuisine and convenient format to more consumers.”
The concept of Tso builds on the extensive experience of husband and wife Min and Jenna Choe as restaurateurs in the Chinese food sector.
Recognising the opportunity for a new generation of ‘to go’ operators, the couple partnered with Angell Tsang to build a technology platform.
Tsang said: “Beyond providing growth capital, Rellevant’s extensive experience in guiding rapidly growing restaurant brands positions us to surpass our competition and establish ourselves as the undisputed leader in our segment.”
Rellevant Partners was founded in 2019 and mainly invests in restaurants, restaurant technology, food & beverage and food tech industries.
Rellevant co-founder Janice Meyer said: “Tso’s proprietary and state-of-the-art technology, developed purposely for the take-out and delivery markets, provides more features and data than available to other operators, giving the brand a huge advantage in a space that still boasts many single unit and traditional operators.”
