Hospitality AI platform serves up $37 million raise

A London-based tech company is set to accelerate its growth after securing major new investment to transform restaurant operations with artificial intelligence (AI).

Nory, founded in 2021 by Mad Egg co-founder Conor Sheridan, has raised $37 million in a Series B round led by investor Kinnevik, taking its total funding to $63 million. 

Accel, alongside other returning investors, also backed the round.

Nory develops an AI-native management system designed for hospitality businesses, helping restaurants cut operating costs, improve profitability and reduce admin through automated tools covering business intelligence, payroll, rota planning and procurement. 

By using Nory, restaurants have been able to reduce operating costs by nearly 20 per cent and increase core net profits by up to 50 per cent.

Its technology is already used by brands such as Black Sheep Coffee, Jamie Oliver Group and Dave’s Hot Chicken.

Bosses say the fresh funding will be used to enhance Nory’s AI platform with autonomous assistants, help expand its team of data scientists and support growth in the US market.

Conor said: “At a time when hospitality is under pressure, we are putting restaurants back in control of their profitability and their destiny.

“The future of hospitality isn’t robots or gimmicks. 

“It’s AI that makes restaurants smarter, leaner, and more profitable, with automation that frees teams up to focus on what matters: great food and even greater customer experiences.”

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