A business-to-business startup that specializes in providing in-depth analytics to the restaurant industry has secured an oversubscribed seed round of funding.
Dyne, a Vancouver software-as-a-service startup, saw capital hail from Weave VC, Sprout VC, Inverted Ventures, and angel investors.
“We are incredibly grateful to our investors and supporters who have helped us reach this milestone,” stated chief executive officer Arnav Mishra. “This funding will enable us to improve our platform and expand our reach to even more restaurants, and we can’t wait to continue delivering exceptional value to our customers.”
In 2021, Dyne was developing its AI product. In 2022, the startup joined entrepreneurship@UBC’s HATCH Venture Builder. Later that year, the company pitched on-stage at Collision in Toronto.
Now, freshly funded, Dyne plans to further develop its analytics platform, which helps restaurants analyze sales, inventory, and customer data while providing recommendations to help restaurants make better-informed decisions.
“Our goal is to enhance operational excellence by improving our quality of service and providing more value to our clients,” the company wrote in a statement.
Dyne also intends to further research and develop machine learning models in order to provide precise revenue forecasting, pricing, and customer sentiment analysis.
In addition, the company has plans for geographical expansion.
“We plan to launch Dyne in new cities across North America, with our goal to gain more clients and help restaurants not just in the major cities, but across Canada,” the company stated.
According to Dyne, the oversubscribed seed round is a “testament to our growing reputation and the confidence that investors have in our vision and potential to help restaurants improve their operations and profitability.”
CEO Mishra added that he is proud to have support from investors “who share our vision for the future of the restaurant industry.”
“With their support,” he noted, “we are poised for continued growth and success as we work towards transforming the industry with our Dyne dashboard.”
Other BC technology companies innovating Canada’s restaurant space include Squirrel Systems and Knowbie.
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