UK – Vending machines supplier, Mother has raised US$3.7 million (£3 million) in funding from a Swiss investment firm, Montreux Capital Management.
With the capital, the company is targeting to expand its operation across the UK and enhance continued development of technology.
This in turn is expected to boost its product offering, including the machine’s digital advertising platform.
Mother said the investment will enable it to build additional machines so that it can continue to enter new sectors on a national scale, such as education, healthcare and transport.
“It’s an incredibly exciting time and we are delighted to have Montreux backing. The vending industry is archaic and in desperate need of innovation,” said Phil Davison, CEO and founder of Mother.
“Not just the machines and technology used to operate them, but the products they sell, especially when it comes to food and drink. Mother is changing this and solving a genuine problem in the world today.
“Our mission is to help the busy eat better by offering customers a convenient way of accessing great tasting, nutritionally balanced snacks, drinks and fresh food whilst on the go.
“With this new investment and Montreux’s support, we can move forward with our plans to grow the team, raise brand awareness and build more machines, making Mother vending accessible to all.”
Founded in 2018, the company has developed its own vending machines to feature 43-inch touchscreen which displays the nutritional information of products available in the machines.
It aims to increase the availability of healthy food and drink products in vending machines, including in the fitness and corporate sectors.
“We look for alternative investments in disruptive companies that have the potential to change the way things are done and revolutionize industries,” said Oliver Harris, CEO of Montreux Capital Management.
“Mother is doing this within the vending space, and it is fantastic to help bring innovative new products and technology to market.”