A Hungarian logistics mobile app receives significant support
The iBar startup has received HUF 170 million in funding from the venture capital fund manager Hiventures.
The business relationship between iBar and Hiventures began in 2021, when the company joined the investor’s incubation program. iBar is a startup that has developed a unique mobile application built on artificial intelligence to manage the inventory of hospitality venues.
The startup’s mobile application won first place in the digital solutions category at the innovation product competition of the 2022 Sirha Budapest international gastronomy trade fair.
With Hiventures’ investment, the startup has been able to develop a much more advanced product prototype and make stronger steps toward entering the international software market. iBar’s goal is to create a complete inventory management platform that can be integrated with the world’s leading restaurant software systems. The company also plans to increase the efficiency of its sales processes.
Their aim is to expand into Central and Western Europe as well as North America. Currently, they are present in 102 domestic hospitality units. The product is already in use abroad, for example in Austria.
