With fans returning to sports arenas to watch live concerts and games, tech startup Snackr has pulled it off $915,000 in seed funding for his in-seat ordering system.
The round was led by RAC-backed venture fund BetterLabs, along with Woodside Energy Technologies, Eastcourt Capital and Spacecubed Ventures.
Snackr CEO Matt Lim said the increase in the mobile ordering start-up reflects a global trend towards a safe return to live events amid Covid-19 and an increasing demand for digital technology to enhance the fans’ experience. improve.
The money will be used to expand to more locations in Australia and the UK.
lim said: Snackr operates in a similar space to major food aggregators such as UberEats and DoorDash and fast-growing table order products such as Mr Yum, but differs in targeting the stadium and live event markets.
“The product is designed to meet the unique challenges associated with catering in such locations – mainly high volume orders on tight time schedules and overcrowded halls,” he said.
“The funds are vital to our growth trajectory and will give us the opportunity to capitalize on the resurgent live event industry and booming last-mile delivery sector.”
Snackr launched at the KFC Big Bash League at Blundstone Arena in December 2020 amid uncertainty over Covid-19 and subsequently drove a 55% increase in spend per transaction, with 62% of fans placing repeat orders and 50% of the income generated during off-peak hours
Lim said this results in a smoother demand curve and more efficient staffing for suppliers.
“In addition to enhancing the fan experience and driving revenue, Snackr generates real-time data insights to help operators make informed decisions about inventory, staffing, pricing and promotions,” he said.
“The product also offers new marketing opportunities for sponsors and rights holders who want to promote products and activate fans.
BetterLabs CEO James Edwards said they are the Snackr. had followed team for a while and love what they do.
“Their technology is revolutionizing the stadium user and supplier experience and we are thrilled to now embark on a journey with them as they scale with our recent seed-round investment,” he said.