WIB Raises €750K in Funding

WIB MachineAccording to multiple reports, WIB, a Palermo, Italy-based vending machine startup, raised €750k in funding.

Backers included Vertis Sgr and RedSeed Ventures and several unnamed angels, which acquired a total 40% stake in WIB.

The company intends to use the funds to manufacture its machines and expand marketing efforts.

Co-founded in 2013 by CEO Nino Lo Iacono, Fabio Montagnino, Filippo Paredes and Francesco Patronaggio, WIB has created vending machines for grocery, wine, consumer electronics, make-up, pharma, etc. The company has developed technology that allows customers to buy on-site through the touch interface or via web and mobile, choosing the most convenient machine from a map and picking up their purchases in any moment. It aims to enable tetailers to implement actual stores, reaching key commercial areas (airports, malls, companies, urban centers, hospitals, etc) with low investment and operating cost.

WIB Machines

It has already partenered with a local retailer and will soon present its solution in the USA.



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