Daily Blends, a Toronto, Canada-based AI tech company providing smart vending machines offering fresh, healthy food options, raised USD $2m in funding.
The investment was co-led by Hustle Fund and New York-based 2048 Ventures.
The company intends to use the funds to accelerate its plan to deploy its AI-powered smart vending machines at many locations across the Metrolinx network, starting with Union Station.
Founded by sisters Shriya Gupta and Purva Gupta in 2020, Daily Blends is a technology company developing AI software powering smart vending machines. It operates a network of AI-powered smart vending machines serving high-quality meals that goes beyond traditional restaurants to help capture real-time inventory data and strategically gather more information about consumers than ever before – information that can be processed and analyzed to provide useful insights.
The company’s software analyzes real-time sales, inventory, and user data from each vending machine, generating multi-level user, location and network insights and powering a highly optimized end-to-end supply chain achieving high product availability and minimal food waste. The in-house technology and algorithms generate insights on accurate demand forecasts, most optimum assortments, share of shelf, promotions, product recommendations, fueling high customer retention, while optimizing delivery schedules and minimizing out of stocks.
In addition to its agreement with Metrolinx, Daily Blends is powering smart vending machines at the largest university in Canada, University of Toronto, at hospitals and factories and plans to expand in the U.S. later in 2023.
FinSMEs
07/03/2023