EBar Initiatives Limited, a Robert Gordon University alumni start-up and 2017 Scottish EDGE winner, is celebrating having secured funding of £300,000.
Their aim is to dramatically improve the consumer experience at music and sports events, using their innovative dispensing technology to reduce the time people spend waiting in bar queues.
This funding will be used to further develop its consumer operated EBar® dispenser and build initial production units. The company believes that when the EBar® dispenser is integrated with the latest rapid payment technologies, it will serve consumers perfect pints of beer or soft drinks up to three times faster than traditional bars.
The company, founded by Sam Pettipher and Nick Beeson, was set up in response to frustratingly long bar queues at large events. Scottish EDGE funding has been augmented by equity investment from a number of investment groups and individuals, including RGU alumni.
Nick Beeson, Commercial Director said “We have already demonstrated that our technology works, and this funding injection provides us with capital to develop a production EBar® unit. We look forward to launching it with our partner venue operators later this year.”
Stuart Gilmore, who joins EBar Initiatives as Jenson’s investment director commented: “Jenson seeks out and invests in the most innovative and disruptive companies. We look forward to working with the team to help them realise the tremendous potential of their technology.”
Sam and Nick recently returned to RGU for MBA Leadership Week.
Dr Ian Broadbent, Director of MBA at RGU, said: “Sam and Nick met on the MBA course at RGU, and they recently returned to the classroom where it all began to inspire our current students during MBA Leadership Week.
“It was great to hear that they have used elements of the MBA daily to support the exciting developments at EBar Initiatives, and we're delighted that they've achieved this important milestone.”
Scottish EDGE funding has been augmented by equity investment which was led by London-based Jenson Funding Partners SEIS and EIS Fund who were joined by Scottish investors including angel investor groups Gabriel and Equity Gap.
Release by Stacey Lynch
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