Portland start-up that makes vending machine screens gets $15.4 mil
PORTLAND, Ore. - Fast-growing VendScreen Inc. has landed another $15.4 million in venture capital.
VendScreen makes touch-screen devices for vending machines. The company, which is now selling products, will use the investment to build infrastructure.
The investment includes an $8.4 million Series B round and $7 million from two private investment funds: the 3x5 Special Opportunity Fund and Merrickhanna Ventures.
“VendScreen Inc. is at an inflection point,” said founder and CEO Paresh Patel, in a news release. “We’re growing very fast, having evolved from a development company into an operating company in under a year. This funding will allow the company to push aggressively into the market while we build our team and company operations to support growth.”
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Some big names are among the company's investors, including Nitin Khanna and Tony Arnerich.
The funding announced Friday is in addition to a Series A investment announced earlier this year.
“It is clear from customer and prospect reception that our value proposition is getting through to people," said Glenn Butler, co-founder and chief technology officer, in a news release. "Up until now, vending machine operators may have equipped between 3 percent and 5 percent of their machines with cashless technology. Now, they are ready to go 100 percent with VendScreen Revolution which brings the existing vending machines into the much desired digital age with features such as cashless acceptance, nutrition information, advertising and promotions, and data to improve routing efficiency, inventory control, and merchandising."
Great, Now if the vending machine erros and some one punches the thing no one will be able to get there dorito fix in the office, I sence conspiracys (gives paranoid look)..
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Just kidding folks, I know I am crazy, but not insane.
I like the idea, but my question is this, what if the screen gets damaged? or will it have the "Gorilla Glass"?
 @lee986321Â
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Gorilla glass can be damaged, just ask someone with a Galaxy or iPhone device.
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But like most vending machines, this will have a dual layer glass. That might be the patent they have to make their devices be durable where others may have failed. They have the ability to have a display screen capable of sensing touch, and still not break under anything less than a hammer.
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@lee986321 Maybe you will get Dorito crumbs instead of full sized chips. Reality screen.
Neat idea and cool concept.