Digital signage ad and vending kiosk network raises $2M for expansion

April 22, 2014

Vengo Labs, a New York City-based startup that manufactures mini vending machines, has raised $2 vengo kioskmillion in Series A financing to broaden its reach, the company announced.

Vengo has an installed base of 60 compact, interactive digital kiosks, selling a variety of items from cookies, candies and vitamins to pain relievers, toothpaste and pens. The kiosks also double as a digital signage ad network driven by the Vengo platform, running campaigns for brands such as Uber and Mondelez International.

Locations for Vengo's kiosks include NYU, ProHealth, Raven, Fueled Collective and the IPG Media Lab. According to the company, its kiosks are seeing 280,000 active customer engagements per month.

Investors in the financing round include Coinstar founder Jens Molbak, Brad Feld, Nas & Anthony Saleh's QueensBridge Venture Partners, Joanne Wilson, Kensington Capital, Tony Hsieh's Vegas Tech Fund, Scout Capital and Vector Media.

Crowdfunding platform SeedInvest was a major participant, contributing $720,000 to the Series A financing round, Vengo says.

"Vengo is changing the way that brands interact and engage with consumers by providing a smarter alternative for research and sampling," Vengo investor Joanne Wilson said in a statement. "It is already influencing consumer consumption patterns in New York City."

Vengo recently partnered with large New York area-based vending machine operator CC Vending, in order to add a high-tech complement to CC Vending's thousands of locations and also to benefit from CC Vending's logistics and fulfillment.

Topics: Advertising , DOOH Advertising , Interactive / Touchscreen

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