Invenda eyes the US after receiving USD 19 million

Please login or
register
15.03.2023

Invenda Group AG, the provider of automated retail technology, has completed its series B round, raising $19 million led by Point Break Capital Management and an existing investor, Mutschler Ventures AG. The capital will support the development of Invenda’s automated retail cloud-based solutions and accelerate commercial and geographic expansion in the United States.

Founded in 2017, Invenda’s award-winning proprietary operating system (InvendaOS) leverages IoT, cloud technology, and artificial intelligence to maximize ROI for the automated retail industry. It offers an ecosystem of software (Invenda Cloud, InvendaOS, Invenda Wallet), hardware (vending machines, smart fridges, and micro-market kiosks), advertising, data, payment, and services to accelerate the fast-growing $18B industry.

Invenda powers thousands of self-service POS devices globally, touting partnerships with Fast-Mobing-Consumer-Goods (FMCG) titans like Mars Wrigley and leading operators like Selecta. Today, the entire ecosystem of Invenda Platform solutions enables machine manufacturers, consumer brands, and operators to reach new markets, capture unprecedented customer insights, lower operating costs, and ultimately increase revenue by 60% per machine. This is achieved through upselling, dynamic pricing, product animations, and targeted advertising opportunities.

The fresh funds from its series B round will further bolster Invenda’s growth and hasten its expansion in the US market. Existing investor Mutschler Ventures AG joined lead investor Point Break Capital Management to fuel Invenda’s ambition with $19 million in investment.

“In today’s world, data is everything. Invenda has developed a solution that deepens and broadens the data pool for automated retail, increasing revenue and enhancing user experience and ensuring organizations are not letting valuable insights disappear”, said Sylvie Mutschler of Mutschler Ventures. “Invenda has already proven the value its platform can deliver with major players in Europe, and we’re happy Mutschler-Ventures is part of Invenda’s journey to scale this technology globally for a new era of automated retail.”

The new investment comes on the back of significant growth for Invenda, which doubled its annual revenue in 2022, and brings the company’s total funding to more than $30M USD. Since 2017, Invenda has scaled to over 100 employees and offices in six countries worldwide. Furthermore, it has proven the abundant potential for IoR technology by rapidly expanding its reach across the largest automated retail markets in the world.

(Press release/RAN)

0Comments

More news about

Invenda Group AG

Company profiles on startup.ch

Invenda Group AG

rss