Byte focuses on supplying employees with healthy food options using web enabled Point of Sale (POS) technology and RFID tags for tracking and billing.
Seen as a way to attract and keep talent for smaller companies before they are able to offer a full-fledged cafeteria type offering. Companies for example use Byte to offer free meals to employees who are working after a certain hour. Employers pay a monthly fee of $500 to house the vending machines, and they can also subsidize the cost of the food in the machines and track how successful the perk is from usage data..
The connected kiosks also make it easy to check on sales and ensure the machines are restocked from the local vendors. To prevent waste Byte tries to implement dynamic pricing so the food avoids spoiling
Byte just announced a $5.5M Seed round led by Spring Creek Investment Management, with Bolt hardware accelerator and Bessemer Venture Partners also participating.
