Touchscreen vending machine startup Vengo has raised $7 million in equity funding, reports TechCrunch. Vengo's wall-mounted mini-vending machines sell six items at a time at locations such as hotels, universities, and health clubs. The company sells the machines to distributors, asking for a small fee per month to access Vengo's software.
The company competed on the ABC show "Shark Tank," walking away with a deal for $2 million in venture debt for 3 percent of the company. According to Inc., Vengo ranked 620th of the 5,000 fastest-growing private companies, based on 2017 revenue of $3 million and three-year growth of 807 percent. Much of that growth has come from customers in its home state of New York, though the company has been steadily expanding its geographic footprint. Full Story
Related: Hannaford Tests In-Store Digital Features; Automation, Innovation Ruled Foodservice in 2018.
from Specialty Food News http://bit.ly/2QopPYI
No comments: