Technology

Automated retail tech firm Aeguana raises $1.66M

Clive Broadhutst, Frontier Development Capital, right, welcomes Manish Shah to Aeguana. Image courtesy of Aeguana.

October 29, 2021

Aeguana, a firm specializing in automated retail technology, has experienced record-growth following a £1.2 million ($1.66 million) growth capital investment, according to a press release.

The transaction — which was supported by Frontier Development Capital in September 2020 through its £100 million ($138 million) FDC Debt Fund — saw Manish Shah become chief executive of the London based firm.

FDC's debt funding has enabled the firm to expand its production capabilities and develop its team of in-house experts, implementing efficiency and supply chain improvements needed to service Aeguana's global brands and retailers, including WH Smith, Yakult and Carluccio's.

Aeguana's Smart Fridges were adopted by the U.K.'s National Health Service to enable workers to access meals quickly while on shift.

The company recently announced a range of barista machines, called Coffee2Go for the retail and hospitality sectors.

Technology