TAGS: vending technology, Vagabond Vending, Vagabond seed financing, Insight telemetry hardware, vending machine-to-machine communication services, Juan Jorquera, vending software, John Powell, Scott Meskin,, Black Tie Services; MapQuest founder, Barry Glick, Vagabond investor-advisors
WASHINGTON -- Vagabond Vending reports that it has closed $550,000 in seed financing to augment its product portfolio, including Insight telemetry hardware and machine-to-machine communication services. Vagabond president Juan Jorquera said the combination equity and debt infusion will be used to enhance Vagabond's existing software offering, complete the build-out of its communications network platform and stock the shelves with Insight inventory.
In addition to enabling the commercialization of Vagabond's 3G Insight telemetry services, the financing round brings an experienced group of advisors to the company's team. They are John Powell, a veteran of US Wireless Data, Transaction Network Services and Cantaloupe Systems; Scott Meskin, president of Baltimore-based vending operation Black Tie Services; and MapQuest founder Barry Glick. Other incoming investor-advisors bring experience in the investment banking, e-commerce, merger and acquisitions and telecommunications industries to the Vagabond team.
"Guidance from this experienced group of strategic individuals will help us to accomplish those partnership goals and quickly scale the number of machines implementing the Vagabond VMS solution," Jorquera said.
Vagabond is expected to ship its 3G cellular Insight telemetry devices to vending operators in early September. Improvements to Vagabond's Web user interface are also slated for release in the coming months.
In addition to offering its own Insight vending management toolkit, Vagabond integrates with other industry-available telemetry hardware and any Web, mobile or tablet device.