Nory, a London, UK-based company that offers a comprehensive end-to-end solution for hospitality enterprises, secured €7 million in seed funding.
The round was co-led by Triple Point Ventures and Samaipata VC. Other participating investors included Playfair Capital, Cavalry VC, and Circlerock Capital.
The funding will be utilized to extend the capabilities of Nory's proprietary technology and accelerate its go-to-market strategy.
Conor Sheridan, Founder and CEO of Nory, said: “We believe leveraging technology like Nory will make a huge difference to operators by helping them further professionalize their businesses, increase productivity and ultimately boost profits. 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.”
Nory’s core focus revolves around developing an AI-powered operating system tailored specifically for hospitality businesses. The company’s primary objective is to streamline and centralize essential operational functions crucial for running successful hospitality venues.
Company: Nory
Raised: €7.0M
Round: Seed Round
Funding Month: May 2023
Lead Investors: Triple Point Ventures and Samaipata VC
Additional Investors: Playfair Capital, Cavalry VC, and Circlerock Capital
Company Website: https://nory.ai/
Software Category: Restaurant Management Software
About the Company: Established in 2020 by Conor Sheridan, Nory is an AI-powered operating system for hospitality businesses. Powered by intelligent algorithms, Nory's operating system analyzes data from various areas, such as daily revenue, employee scheduling, and supply chain requirements. The system provides actionable insights and suggests operational efficiencies, empowering on-the-ground teams to enhance venue efficiency and reduce costs. The company has successfully partnered with several prominent brands in the European and UK hospitality sector. Notable clients include Stonegate Pubs, Viva Italia Group, and Dr. Juice. By collaborating with industry leaders, Nory demonstrates its ability to deliver tangible value and innovation to its clients within the hospitality space.
Source: https://techfundingnews.com/london-based-nory-raises-e7m-to-spearhead-ai-revolution-in-the-hospitality-sector/