- Vancouver Tech Journal
- Further funding for Vancouver’s Dyne
Further funding for Vancouver’s Dyne
The SaaS-for-restaurants startup received an influx of cash from Edmonton-based Sprout.vc as part of its now oversubscribed 2022 seed round.
Investors are clearly still hungry for Dyne. Sprout.vc announced today participation in Dyne’s 1.5 million seed raise from December, 2022. Sprout, an Edmonton-based firm, certainly has a shine for B.C.-based businesses. It invested in Vancouver’s Levr.ai in February and a trio of Victoria-based companies last June. All of the investment has come from Sprout Fund II. For Dyne, proceeds of the now oversubscribed $1.6 million round will be used to drive commercial expansion, build strategic partnerships, and further develop its platform.
“Sophisticated analytical and decision-support solutions have been available in retail and e-commerce for over a decade, allowing those businesses to harness customer insight to provide high-quality tailored experiences,” said Shaheel Hooda, partner at Sprout. “In the restaurant space, only the largest brands with the biggest budgets have been able to do this. Dyne brings these capabilities to any restaurant chain, and the market response has been very positive since [its] launch just over a year ago.”
“Restaurants have ramped up their operations, post-COVID, to deal with the resurgence of in-person dining,” said Arnav Mishra, Dyne’s founder and CEO. “Patrons are returning to socializing around their dining experiences. This renewed market demand combined with significant labour shortages is driving [the] industry's need to automate traditional marketing and operational activities. We provide these tools while helping restaurants design and deliver tailored experiences that keep patrons coming back. Our team is excited to leverage the support of the Sprout team as we grow our business and position ourselves to become the leader in the restaurant decision-support space.”
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