Dublin-based hosptech startup Nory has raised €7 million in a seed funding round. The company uses a healthy dose of AI-powered optimisation wizardry to help restaurants manage their workflow. Soup to nuts.
Following a $2 million pre-seed round announced in early 2021, Nory now plans to use the €7 million in seed funding to accelerate its go-to-market strategy and start reeling in the customers.
Nory’s €7 seed round was led by Triple Point Ventures and Samaipata VC with Playfair Capital, Cavalry VC, and Circlerock Capital participating.
Whereas Tenzo is focusing solely on one slice of the pie, in this case, analytics, for better or for worse, the market will determine, Nory is angling to capture the entire (restaurant industry workflow) pie.
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 firsthand 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.
At present, Nory counts Stonegate Pubs, Viva Italia Group, and Dr. Juice amongst its client base, and now armed with a fresh €7 million, is aiming to up this roster, and soon.
“The industry has never faced as many headwinds as it does right now; higher costs, higher staff turnover, and lower margins. We believe leveraging technology like Nory will make a huge difference to operators by helping them further professionalise their businesses, increase productivity and ultimately boost profits,” says Sheridan. “Nory offers the recipe for success, providing hospitality managers with all the ingredients to run an efficient and profitable venue. We’re on a mission to empower businesses all over the world to thrive, and this funding will enable us to continue helping the hospitality industry reach its full potential.”