Invenda Group AG, a leader in next-generation automated retail, announced a $19M Series B financing round, led by global investor Point Break Capital Management LLC, with participation from existing investor, Mutschler Ventures AG.
The new capital will support continued development of the Invenda Platform’s cloud-based solutions for self-service point-of-sale (POS) devices, as well as commercial and geographic expansion in the United States.
Founded in 2017, Invenda’s award-winning proprietary operating system, InvendaOS, leverages IoT, cloud technology and AI to maximize ROI for the automated retail industry, encompassing vending machines, smart fridges and micro market kiosks. The company is positioned to further leverage these machines to tap into the digital out-of-home (DOOH) advertising industry.
The Invenda Platform’s full suite of software solutions include Invenda Cloud, InvendaOS and Invenda Wallet.
“Self-service POS devices are the retail industry's sleeping giant and we've figured out how to wake them up,” Jon Brezinski, Invenda CEO and founder, said in the announcement. “Our end-to-end, digital solutions transform an underutilized, undervalued sales outlet into a channel with outsized ROI and advertising potential, while opening the door to immense opportunities for really engaging, fun consumer experiences. This new investment will help us continue our mission to push the boundaries of automated retail and advance its value for operators, brands, and their customers.”
Invenda currently powers thousands of self-service POS devices globally. Today, the full ecosystem of Invenda Platform solutions enables machine manufacturers, consumer brands and operators to reach new markets, capture customer insights, lower operating costs and increase revenue by 60% per machine, according to the announcement. This is achieved through a combination of upselling, dynamic pricing, product animations and targeted advertising opportunities.
The Invenda Platform’s range of solutions include:
- Invenda Cloud: a sophisticated fleet management platform built to oversee, maintain and upgrade automated retail networks from a central, digital location.
- InvendaOS: a proprietary operating system for next-generation self-service POS devices that brings the benefits of online shopping, such as data collection, personalization and targeted advertising, to the real world for brands, operators and consumers.
- Invenda Wallet: a download-free web app that enables mobile shopping, gamification, gifting, scratch-and-win and loyalty schemes, as well as remote account access for consumers.
Invenda’s cloud-based ecosystem creates highly customizable new ways to engage consumers through DOOH advertising opportunities. Invenda’s suite of advertising capabilities close the divide between self-service interactions and high-value programmatic advertising, allowing operators to increase passive revenue and collect invaluable customer data.
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, according to the announcement. Since 2017, Invenda has scaled to over 100 employees and offices in six countries worldwide. Invenda Group AG is headquartered in Alpnach, Switzerland, with offices and showrooms in London, Berlin, Stockholm, Novi Sad, Hong Kong and a new U.S. office and showroom to be opened in 2023.