Vendon produces monitoring systems and telemetry solutions for vending machines that track cash and product flow and report damages or technical problems. Its equipment and software are supplied to both international and local vending machines. The company’s telemetry systems optimize human resources and reduce transportation-related losses by delivering remote diagnostics and inventory data. Vendon is a draugiem.lv group company and its products are Latvian-produced. The company received €500K financing that the article says comes from BaltCap, private investor contributions and EU Structural Funds administered by the Latvian Guarantee Agency. Vendon intends to use the capital to accelerate development, hire new people and organize active international selling.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2012