Vendekin Technologies raises pre-Series A round led by Better Capital
SaaS startup Vendekin Technologies has raised Rs 8.5 crore in its pre-Series A round led by Better Capital with participation from existing investors CP Gurnani’s Family Office and Vineet Nayyar’s Family Office.
The capital will primarily be used to strengthen R&D and technology teams to drive superior consumer buying experience at vending machines further plans to expand into global markets such as the USA and Europe.
Founded in 2016 by Aroon Khattar, Vendekin Technologies provides its proprietary technology solutions to large multinational companies as well as helps small vending operators digitize their business. The company’s plug-and-play hardware solution, called Retrobox, can fit into any traditional vending machine without the need for 4G/5G, upgrading it to a smart, touch less vending machine.
Vendekin currently operates in six countries including India, UAE, the UK, the US, Saudi Arabia and Oman and claims to have enabled over 2 million transactions worth $5 million to date. The platform has partnerships with OEM manufacturers in the retail, refrigeration and vending space such as SandenVendo, Nestle, Cantaloupe, Godrej, Elanpro, Vendiman, Instago among others.
Vendekin Technologies is apparently a moving startup with prodding improvement on IT services and IT consulting platform. I’m sure this startup would continue to prosper in its journey ahead. My best wishes to the entire group of Vendekin Technologies. This will give them a giant accomplishment later on.Shishir Gupta, Founder and CEO, StartupLanes
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
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