Swiss high-tech vending and automation firm Invenda hooks $7.5 million for U.S. expansion

Switzerland's Invenda Group AG close of a 7 million CHF ($7.59 million) investment round. Invenda develops smart software and hardware for vending machines, smart kiosks and digital signage. It is active in 14 countries.

The news comes after the the company closed on U.S. deals with longtime client Mars Wrigley and with the Houston Astros’ Minute Maid Park. Other Invenda clients include Coca-Cola Co. and Lindt & Sprüngli. The funding round, according to the company, indicates confidence among core investors in both Invenda’s corporate culture and global expansion strategy.

"Our goal was to collect three 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," said Invenda founder and chief executive 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," Brezinski added.

The round was led by Walter Huber, the former Emmi chief executive and head of M-Industry at Migros, and well-known financial specialist Gregor Greber. Both investors offer experience in food and retail and will join Invenda’s board.

Philippe Gaydoul of the Gaydoul Group and former chief executive of Denner also participated in the financing round, which will mainly be allocated to fund sales and development.

"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," Huber said.

In addition to its U.S. orders, Invenda reported several other milestones in 2021. These included the installation of its first outdoor vending machine, updates to its patented A-Z touchless transaction technology, and enhancements to its gamification and crypto capabilities. The company also moved into new, larger headquarters in Alpanch, Obwalden, last year.

"In the heart of Switzerland, we now have enough room to present our products,” Brezinski said. “Invenda’s AI promotions, our massive touchscreens 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.”