Automated Retail Innovator Invenda Raises $7.59M for Global Growth
The Swiss company transforming mechanical vending machines and kiosks into smart IoT-devices with patented touchless technology, AI-powered engagement and crypto-payments, builds on large new U.S. orders; Board of directors expands, adding Walter Huber and Gregor Gerber
Invenda Group AG announced today the close of a 7 million CHF ($7.59M) round and the expansion of its board of directors. Invenda develops smart software and hardware for vending machines, smart kiosks and digital signage, and is active in 14 countries. The news comes after the close of major U.S. deals with long time client Mars Wrigley and with the Houston Astros’ Minute Maid Park (other major clients include Coca-Cola and Lindt & Sprüngli). The funding round indicates confidence among Invenda’s core investors in both Invenda’s corporate culture, with its commitment to transparency, and the drive to expand global growth.
“Our goal was to collect 3 million francs by the end of 2021, but now the amount is more than double. This confirms we are on the right track with Invenda and that our backers believe in the future of Automated Retail,” says Founder and CEO Jon Brezinski. “We are changing the way customers are engaged, creating smarter ways to manage inventory and maintenance, and using our imaginations to expand the entire industry.”
The round was led by the former Emmi CEO and Head of M-Industry at Migros Walter Huber, and well-known financial specialist Gregor Greber, who both bring valuable experience in food and retail and will join Invenda’s board. Philippe Gaydoul of the Gaydoul Group and former CEO of Denner also participated in the financing round which will fund growth in sales and development.
The investors praised Invenda’s commitment to European quality management and disclosure of all figures and strategy considerations.
“I am fully convinced of Invenda’s technical approach and look forward to seeing the highly qualified and dynamic team grow and achieve great things,” said Walter Huber.
In addition to major orders, 2021 also saw the installation of Invenda’s first outdoor machines; continued innovations in its patented A-Z touchless transaction technology, gamification and crypto capabilities; and the move into new, larger headquarters in Alpanch, Obwalden.
“Here in the heart of Switzerland, we now have enough room to present our products,” said Brezinski. “Invenda’s AI promotions, our massive touch screens, and all of our other innovations can be used. Clients can experience the way we’ve moved this machine-age field into the 21st Century.”