Vending

SMRT1 Technologies raises additional funding

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September 8, 2021

SMRT1 Technologies, a Nelson, British Columbia-based provider of smart vending technology, has raised close to half a million dollars during its seed round B crowdfunding campaign, which closed in July, according to a press release. During this second round of funding, investors from all over Canada invested $484,854 in the company.

SMRT1 plans to use funds from the FrontFundr campaign to scale up sales and marketing efforts as well as to secure intellectual property rights.

"This is a burgeoning opportunity for businesses in the fresh food sector and we look forward to using our software solution to open these markets to retailers in this industry," Terry Van Horn, SMRT1 Technologies CEO, said in the press release.

SMRT1's technology allows for a myriad of actions ranging from advertising and analytics to inventory control and secure transactions. For vending partner UpMeals, SMRT1's technology remotely manages machines, tracks usage and in conjunction with UpMeals' proprietary software creates custom-built menus, loyalty programs and discounts for meals approaching expiration.