Daily Blends Launches AI-Powered Fresh Food Vending Machines, Announces $2 Million Funding and Multi-Year Partnership with Metrolinx
Summary
TORONTO, March 07, 2023 (GLOBE NEWSWIRE) -- , an AI tech company disrupting the automated foodservice industry with smart vending machines offering fresh, healthy food options, today announced its USD $2 million in investment co-led by San Francisco-based Hustle Fund and New York-based 2048 Ventures. This financing will accelerate Daily Blends plan to deploy its AI-powered smart vending machines at many locations across the Metrolinx network, starting with Union Station. The result is a healthy, fresh food option for an average price of $6, notably less than the cost of a typical fast-casual meal.The companys 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.Daily Blends 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.The combination of powerful data insights and plug-and-play smart vending machines, further combined with an omnichannel experience, helps us address new-age, evolving consumer needs while keeping our model agile and removing the heavy capital and labor costs associated with traditional retail formats, said Shriya Gupta, CEO and co-founder of Daily Blends. We are thrilled to support the company and look forward to their growth and further success.Were excited to work with Daily Blends to bring high quality, convenient and healthier food options to our customers, said Mark Childs, Chief Marketing Officer, Metrolinx. This partnership will help enhance the customer experience, with on-the-go food and beverage choices to help make their journey on GO Transit and UP Express even more enjoyable.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 aggressively in the U.S. later in 2023.About Daily BlendsDaily Blends is a technology company developing AI software powering smart vending machines.