News

Food pickup kiosk developer Minnow closes successful seed investment round

October 30, 2018

Minnow, developer of the first IoT-enabled food pickup kiosk that helps restaurants manage online and delivery orders, has closed a $1.2 million seed round led by Portland, Oregon-based Elevate Capital.

The funds will be used to accelerate product development, marketing and sales efforts, as well as to open an office in Portland, a press release said.

Because Minnow is located in one of the Opportunity Zones created under the recently passed tax law, qualifying investments enjoy lower capital gains taxes and other tax benefits.

The Minnow self-service pickup notifies customers (through the free Minnow app) when their orders are ready, and keeps their food fresh and secure until they arrive to pick it up.

This helps restaurants to reduce the cost of managing order pickups, eliminate losses caused by theft and pickup mistakes, and offer a more customer-friendly pickup experience.

"Minnow solves an important problem for restaurants, which is how to manage the increase in takeout orders caused by the emergence of food delivery services and changing consumer habits," Elevate Capital Managing Partner Nitin Rai said in the release. "Beyond that, Minnow's pickup pods enable new business models for foodservice, food delivery and retailing. Elevate Capital is delighted to partner with Minnow as they bring their innovative technology to market."