The Venture Codex

Participated · Equity · Nov 2015

WIB Machines operates a fully automated, web-based store that lets customers buy on-site, online, via web or smartphone and pick up purchases 24/7 from the chosen machine. The solution enables retailers to deploy an actual store in strategic locations to reach customers through proximity and convenience. The company was created within incubator Consorzio ARCA by Nino Lo Iacono and Marco Bicocchi Pichi. WIB Machines has already deployed its solution in partnership with COOP. The company intends to use the new capital to continue expanding operations. As of the report, WIB Machines had raised approximately €2.5m in total funding. WIB develops automated vending machines and the software to operate them, allowing purchases via on-site touch interface or through web and mobile, with customers selecting the most convenient machine from a map and picking up purchases at any time. Its machines target use cases across airports, malls, companies, urban centers and hospitals, aiming to let retailers deploy low-investment physical stores. The company has partnered with a local retailer and plans to present its solution in the USA. Founded in 2013, the team has designed machines for multiple retail categories including grocery, wine and pharma. WIB intends to use recent funding to manufacture machines and expand marketing efforts. The product and distribution strategy emphasize low operating cost for partners and rapid roll-out into key commercial areas.