UK-based vending business Mother has received £3 million in funding from Montreux Capital Management, which the company will use to expand its operation throughout the UK.
Mother was founded in 2014, aiming to increase the availability of healthy food and drink products in vending machines. Mother designed its own vending machines to feature 43-inch touchscreen which displays the nutritional information of products available in the machines to provide clarity about their nutritional content.
Mother currently supplies clients including Apple, Amazon, Barclays, and more, and Mother claims that the investment will enable it to build additional machines so that it can continue to enter new sectors on a national scale, such as education, healthcare and transport.
The investment will also be used to fund the continued development of technology to enhance the company’s offering, including the machine’s digital advertising platform.
According to a statement issued on behalf of the company, Mother has predominantly focused on the fitness and corporate sectors, but this investment offers “a real opportunity to expand into new territories” and offer its machine and technology platform “to improve the vending landscape throughout the country.”
Phil Davison, CEO and founder of Mother said: “It’s an incredibly exciting time and we are delighted to have Montreux backing.
“The vending industry is archaic and in desperate need of innovation. Not just the machines and technology used to operate them, but the products they sell, especially when it comes to food and drink. Mother is changing this and solving a genuine problem in the world today.
“Our mission is to help the busy eat better by offering customers a convenient way of accessing great tasting, nutritionally balanced snacks, drinks and fresh food whilst on the go.
“With this new investment and Montreux’s support, we can move forward with our plans to grow the team, raise brand awareness and build more machines, making Mother vending accessible to all.”
Oliver Harris, CEO of Montreux Capital Management added: “We look for alternative investments in disruptive companies that have the potential to change the way things are done and revolutionise industries.
“Mother is doing this within the vending space and it is fantastic to help bring innovative new products and technology to market.”
© FoodBev Media Ltd 2020
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