Vendekin Technologies, a Pune-based vending machine digitisation and unmanned retail solutions startup, has raised Rs 8.5 crore in a pre-Series A funding round led by Better Capital. The funding round also saw participation from existing investors CP Gurnani’s family office and Vineet Nayyar’s family office.

As per the startup, the freshly raised funds will be used towards investing in its R&D and technology teams to improve the customer experience at vending machines and micro markets.

Vendekin Technologies | Vending At Your Fingertips

Founded by Aroon Khatter, Vendekin Technologies is India’s first hardware-enabled SaaS startup providing its proprietary technology solutions to large multinational companies and helping small vending operators digitize their business.

Its plug-and-play hardware solution, called Retrobox, can fit into any traditional vending machine without the need for 4G/5G, upgrading it to a smart, touch-less vending machine. As per the startup, Retrobox is being used by companies like Nestle and Cantaloupe.

Speaking about the development, Aroon Khatter said,

“We have a very special product in the unattended retail space, and Better’s expertise will be instrumental in helping us gain market share globally. We are also excited about our plan for India, where we have launched our V-commerce platform, which is spawning many entrepreneurs in the unattended retail space.

With this funding announcement, Vendekin Technologies also announced its plans to expand globally to the USA and Europe. The startup is also looking to explore new avenues of unattended commerce, such as EV chargers, amusement parks and laundromats.

Vendekin Technologies aims to power $100 million in gross transaction value globally in unattended retail transactions by 2025. It will also work at creating a new channel of unattended retail in India through its V-commerce platform.

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