Company Name: Snackr
Announcement Date: 15/06/2022
Announcement Category: Investment
Announcement Content:
Snackr, a sport and event tech start-up bringing in-seat ordering to stadiums, has closed a seed funding round, as it scales to help venues and fans return to events amidst Covid-19.
The $915k seed round was led by RAC-backed venture fund BetterLabs and joined by Woodside Energy Technologies Pty Ltd, Eastcourt Capital Pty Ltd and Spacecubed Ventures Pty Ltd.
The raise reflects a global trend towards the safe return to live events amidst Covid-19 and increasing demand for digital technologies dedicated to improving the fan experience.
The funds will be used to expand to service more venues across Australia and the UK.
“The funds are vital to our growth trajectory and will give us the opportunity to capitalise on the rebounding live events industry and booming last-mile delivery sector.” says CEO Matt Lim
The Snackr product puts the fan in control with a contactless mobile ordering experience primed to both increase revenue and improve crowd management on game days. Snackr operates in a similar space to major food aggregators like UberEats and DoorDash and fast-growing table ordering products like Mr Yum, but differs by catering specifically to the stadium and live event markets. The product has been designed to address the unique challenges associated with catering in such venues – primarily, large volumes of orders in tight timeframes and congested concourses.
Snackr launched at the KFC Big Bash League at Blundstone Arena in December 2020 amidst Covid-19 uncertainty and realised a 55% increase in spend per transaction, saw 62% of fans place repeat orders and 50% of revenue generated during off-peak times, resulting in a smoother demand curve and more efficient staff utilisation for vendors.
Beyond improving the fan experience and driving revenue, Snackr generates real-time data insights to help operators make informed decisions across inventory, staffing, pricing and promotions. Further, the product provides new marketing opportunities for sponsors and rightsholders looking to promote products and activate fans.
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Announcement URL: https://www.snackrapp.com
About Snackr:
Snackr is revolutionising the stadium experience with mobile concession & merchandise ordering solutions – so fans can skip the queues and enjoy the action! Our platform provides convenience for fans, increased fan engagement & revenue for vendors, targeted marketing opportunities for corporate partners and valuable data analytics for venues – all in the name of delivering an innovative & efficient fan experience.
Go to Company Profile for: Snackr
Announcement Contact: [email protected]
