Kurve attracts new investment to meet the growing popularity of self-service food ordering
– Funding will boost brand awareness and expand operations
Bristol-based technology company Kurve which specialises in providing electronic self-service POS (Point of Sale) solutions to the hospitality sector has secured £250k of seed capital to kickstart an ambitious growth of 500% by 2027. The company is aiming to profit from the surge in demand for self-service kiosks for ordering in quick service restaurants (QSRs) across the UK.
Kurve was founded in July 2021 and already has 110 customers with over 210 sites. Its SaaS (Software-as-a-Service) based in-store kiosk, PoS, web and mobile self-service offerings have been designed to assist hospitality operators become more profitable by achieving higher transaction values, increased throughput, improved labour productivity and enhanced customer loyalty.
According to Kurve Founder and CEO, Steven Boyes the initial funding will be used to invest heavily in marketing and brand awareness over the next 9-12 months and also further develop its Operations Team to rapidly expand its customer base. He commented:
“Following the pandemic hospitality operators have faced growing pressures of staff shortages and escalating operational costs. Self-service has not only seen a rise in its appeal, especially amongst younger consumers, it also significantly reduces costs, increases average transaction values and boosts customer satisfaction.
We see a massive untapped opportunity for Kurve’s in-store kiosk, PoS, web or mobile platform that is ideal for hospitality operators looking to make an easy and affordable switch to contactless ordering. We offer users a slick and easy user experience and our cloud-based solutions can also integrate into existing PoS systems.”
Industry research has revealed that 84% of Generation Z choose to visit a restaurant with a self-serve kiosk over and above those restaurants without and according to analyst Forbes, 65% of customers said they would be more willing to visit a restaurant if self-service kiosks were available.
Backing by Kurve customer
Kurve has received seed capital of £250k with participants in the funding round including Mark Lilley, the founder of Abokado, a leading healthy grab-and-go chain and one of Kurve’s customers. Mark Lilley commented on his own experience of using Kurve’s self-service solutions and his decision to invest:
“I have seen first-hand how powerful and industry-leading the Kurve platform is. Introducing kiosks, mobile self-service and digital loyalty into Abokado has been transformational and Kurve’s product has marked benefits over the competition. All the signs are that this market is set for huge growth, across both hospitality and retail, and I’m delighted to have been able to invest. I look forward to seeing Steve and the team take Kurve from strength to strength.”
Following the success of this seed funding round, Kurve plans to secure Series A funding towards the end of 2024 to further accelerate growth and entry into additional markets.