Nory

Investor: Kinnevik

Nory, an AI-native restaurant management startup, has successfully secured $37 million (approximately £30 million) in a Series B funding round. The investment was led by Swedish investor Kinnevik, with existing backer Accel also participating, and will be used to accelerate the rollout of Nory's platform and expand its footprint, particularly in the US market.Summary of transaction details:Value: $37 million (approximately £30 million)Sector: DeepTech & AI (Restaurant Management Software)Advisor: Not mentionedKey Entities: Target - Nory; Lead Investor - Kinnevik; Participating Investor - AccelLocation: Nory, originally based in the UK, plans significant expansion into the US.Note: This significant Series B funding round highlights the growing demand and investor confidence in AI-powered solutions that directly address the operational challenges and profitability pressures faced by the global hospitality sector.