Byte Foods raises $5.5 million for smart vending machines that serve local fare
Summary
Byte’s married cofounders Lee and Megan Mokri previously ran a business called 180 Eats delivering chef-prepared meals to subscribers, something similar to services offered by Munchery. But when they spotted a kind of smart refrigerated kiosk, made by Lemnos Labs’ alumni Pantry Retail Inc., they had a vision to change their business and brand entirely. Byte’s software also lets corporations subsidize and track aggregate data about their employees’ snacking habits, or participation in a meal perks program. Now, Byte has raised $5.5 million in a seed round led by Spring Creek Investment Management, a family fund based in Philadelphia with a special interest in food and agriculture. One key revenue driver will be expanding the number of refrigerators… and driving down the delivery costs by having route density.” Byte CEO Megan Mokri noted, “Our tech doesn’t exist anywhere else.
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