AirVend

AirVend specializes in innovative unattended retail technologies, providing advanced micro markets and smart vending solutions designed to enhance consumer convenience and access to a variety of food and beverage options. AirVend, founded in 2012 and headquartered in Provo, US, focuses on unattended retail solutions. In February 2015, it was acquired by 365 Retail Markets, further enhancing their product offerings. The company has participated in three funding deals, with the most recent being a Seed round, raising USD 1.

20 mn, led by 365 Retail Markets, LLC. 365 Retail Markets specializes in unattended retail solutions, primarily offering products such as micro markets, smart vending machines, and self-service kiosks. These solutions are designed to enhance workplace dining options, promote collaboration, and improve productivity in various environments, including corporate offices, hospitals, universities, and fitness centers. Their micro market systems provide a controlled-access environment where employees can select from a wide range of fresh food and beverage options, significantly expanding beyond traditional vending offerings.

The company's ecosystem integrates hardware, software, and payment systems, allowing seamless transactions and real-time data insights for operators. Geographic markets for their products include North America, Europe, and several countries in Asia, catering to a diverse clientele that includes businesses of all sizes looking to modernize their food service operations. 365 Retail Markets generates revenue through a mix of direct sales and service agreements with clients, leveraging a comprehensive subscription-based model for its software and hardware solutions. Their transactions typically involve partnerships with corporate clients that implement micro markets or vending solutions in their facilities, allowing employees to make purchases using their proprietary payment systems.

The company’s flagship products, such as the 365Pay platform and various smart vending hardware options, enable frictionless transactions for end users and provide valuable sales analytics to operators. Clients benefit from ongoing support and training services, ensuring they can optimize their retail operations and respond to consumer trends effectively. The revenue model is driven by both initial equipment sales and recurring revenue streams from platform subscriptions and transaction fees. 365 Retail Markets aims to expand its product line with new smart vending machines and enhanced software solutions, with launches targeted for late 2024.

The company plans to enter additional markets in South America and Asia by the end of 2025. The recent funding of USD 1. 20 mn will be allocated towards product development and market expansion initiatives. In February 2015, 365 Retail Markets acquired AirVend, indicating strategic growth and integration efforts.