5+ years advising major stakeholders, analysing the Vending and Coffee Service European market, and understanding fundamental pain points - from field operations up to group reporting – is actually the starting point and the driving force behind our journey: we are convinced data is pivotal – we mean high quality, full range detailed, 24/7 data - and we must bring our contribution to help the industry streamline their operations. This is not only about data related to the machine and the way ingredients are being supplied, processed and consumed, but also the way they are being sold and paid.
Consider first connectivity solutions were made available to the Vending Machine industry more than 20 years ago. Still, and besides rare innovation-driven actors (essentially new entrants not bound to their old legacy setup), IoT or technologies connecting and supporting data exchange from and to the machines is hardly gaining momentum among mainstream vending operators.
This is when the ideation process began - lots of brainstorming, sleepless nights, cups of coffee, doubts and many questioning, ...
Here we are: the full team is set! We’ve got the technology expertise and the industry experience and know-how onboard.
Inspired by numerous open source initiatives, our vision for the industry is straightforward:
Standardization is a must: retail-compliant data sharing and harmonization is the way to go. We promote a mutualized standard solution whereby all concerned stakeholders – from machine makers up to operators or ingredients suppliers – are incentivized to participate.
We wanted to prove that our vision was right: words are fine, but acts are even better, and our goal was to bring evidence and proof of concept via a prototype. This is our MVP (Minimum Viable Product) phase 1, spread over 3 to 4 months.
Main topic on our agenda: partnering with a few machine makers and self-financing the prototype required budget. And we did it! Our VEETAMINE prototype was delivered as scheduled and right ont time, as of February 1st, 2022.
We are currently showcasing our beta version to partners, committee advisors, associations, and key industry stakeholders who share our attractive and distinctive approach. This will take us up to April 2022.
In order to launch the Production stage, we need additional financial resources. And this leads us to 1st external Financing Round A: we have a unique story to share with investors and we are confident the ones attracted by our vision and our transformative next-generation solution (to tackle current frictions) will join us.
This is a significant turning point for us. We have been busy consolidating knowledge, market research, VEETAMINE distinctive model and unique selling proposition, financial projections, up to valuation figures in a single pitch deck describing and synthetising our business, team, funding goals, and plans.
Needless to say our main focus for now: scout, find, and select tech pre-product launch investors.
Once fundraising is secured, we will naturally be dealing with our production agenda or phase 2: the full IoT infra, API, and dashboard development phase.
The tech scope is large and includes translation layers, extended data architecture, administration dashboard, APIs, mobile App, performance optimization, testing, … The 1st stable version is to be set up and running within 12 to 18 months. Rapid time to market is fundamental for us: we'll ensure full collaboration with our partners to constantly focus our development effort with latest update in terms of market functionalities and capabilitites coverage.