Dublin-based Nory has raised $2 million in a pre-see round in an effort to help restaurants manage their entire workflow.
The round was led by Cavalry Ventures and Playfair Capital and saw participation from Enterprise Ireland and a number of unnamed angel investors from both the U.S. and Europe.
"We always pay immediate attention when we see that the founder has a deep understanding of the industry and its processes. That is the basis for an extraordinary product. And the product – as expected – absolutely convinced us: logically structured and intuitive to use, tailor-made for the hectic life of restaurant owners,” comments Cavalry Ventures managing partner Stefan Walter.
Founded in 2020 by Conor Sheridan, Nory isn't just a conceptualised idea brought to life. Sheridan is the founder of Mad Egg, one of Ireland's fastest-growing independent restaurant chains. In so much, he knows first hand the struggles that restaurant owners face, day-in-day-out.
If you've ever spent time working in the restaurant industry, you're well-acquainted with these headaches. There's a dash of data science going on, a sprinkle of logistics management, and, let's be honest, a whole lotta theatrics happening. It's not by chance that just about every actor has waited on tables during their lifetime, your humble author included.
Nory steps in with an AI solution that supports restaurant teams through learning and predicting the needs of the business and then assisting in executing operations more effectively.
"We are not another product to 'do the work' on. Our automation lays the groundwork, allowing restaurant teams to confidently execute key processes with just one tap,” explains Sheridan.
To date, such technology has been reserved for the top echelon of restaurants, and Sheridan's solution is aiming to bring this same level of technical excellence to smaller chains and independent/individual owners.
“Despite the restaurant industry globally being a multi-billion dollar industry, it is still grossly underserved by the latest AI and automation technologies. Leveraging these and the lessons learned from Mad Egg, Nory empowers restaurant owners and operators of all sizes with never before available insights to run their businesses more efficiently and profitability," adds Playfair Capital managing partner Chris Smith.
Nory currently serves 25 customers, and a pilot project with McDonald's is planned for Q2 2021.
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