Retail

PopCom raises $1.3 M from crowdfunding

Logo provided.

June 29, 2020

PopCom, an automated retail technology company specializing in vending and kiosk solutions, has completed its second equity crowdfunding campaign on Start Engine, raising $1.3 million in 47 days, according to a press release.

The goal is to grow its operations, build its sales team, reach more customers and meet the demand for more automated retail machines in the wake of COVID-19, with its proprietary vending machine called the PopShop Kiosk.

The funding comes on the heels of a previous campaign in which PopCom raised $1.07 million, bringing its crowdfunding total to $2.3 million.

"While some industries are hurting, the requirement for social distancing validates the need for vending and retail automation," Dawn Dickson, PopCom founder and CEO, said in the release. "Vending machines and convenience services are becoming more essential, and retailers are looking for more ways to deliver their products direct-to-customer with less human friction."

PopCom has secured technology pilots and roll outs starting with cannabis and alcohol in 2020. The company's operating system integrates facial detection to understand the customer demographic profile including age, gender and emotion.

With more than 4,000 investors, Dickson raised a historic crowdfunding campaign using Regulation CF secure token offering. This type of fundraising instrument allows companies to secure investment from the general public, both accredited and non-accredited investors, which is outside of the traditional fundraising route that most technology start-ups take.

PopCom is still accepting reservations from investors who want to be wait listed for future rounds. There is over $300,000 in commitments to date.

For an update on how the coronavirus pandemic has affected kiosks, click here.