Cantaloupe Systems Completes $12.4M 3rd Round of Funding

Funding Rounds

▤ Summary

Cantaloupe Systems, Inc. , a San Francisco, CA-based provider of a wireless technology solutions for the vending industry, has completed its $12.4m third round of funding.Investors in the round include Foundation Capital and The company has raised approximately $18.4m since its inception.Cantaloupe will use the proceeds to support its growth plan, including making new investments in research and development, launching new products such as Seed Cashless and Seed Enterprise, exploring acquisition opportunities, and hiring talented professionals.Founded in 2002 by young engineers Mandeep Arora and Anant Agrawal, the company currently provides a SaaS solution that saves vending machine operators money.Installed in individual vending machines, the Cantaloupe Seed device monitors all transactions and transmits the data via cellular networks and the Internet Cloud.

$ Funding

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Amount $12.4M Total raised
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Date April 27, 2010 Announcement date
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Investors Cairn Associates, Foundation Capital Lead investors
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Company http://www.cantaloupesys.com Funded company

▥ Classifications

industries
Retail
applications
ERP & Process Management

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up to $1M