Retail

AI food machine maker secures $2M, will deploy in Canada rail stations

Image provided by Daily Blends.

March 7, 2023

Daily Blends, an AI technology provider that makes smart vending machines offering fresh food options, has closed a $2 million funding round led by San Francisco-based Hustle Fund with participation from New York-based 2048 Ventures and other investors.

The financing will accelerate Daily Blends' plan to deploy its AI-powered machines at locations across the Metrolinx network in Canada, starting with Union Station. The machines will offer fresh food to millions of commuters in the Greater Toronto Hamilton area, according to a press release.

The company's software analyzes real-time sales, inventory and user data from each machine, generating multi-level user, location and network insights. The algorithms generate insights on accurate demand forecasts, optimum assortments, share of shelf, promotions and product recommendations 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," Shriya Gupta, CEO and co-founder of Daily Blends, said in the release.

In addition to its agreement with Metrolinx, Daily Blends is operating machines at the University of Toronto, hospitals and factories and plans to expand in the U.S. this year.