Nory Raises £14.7M in Series A Funding to Transform Hospitality Industry

Based in London, Nory has successfully raised 14.7 million euros in Series A funding to lead artificial intelligence throughout the hospitality industry. The funding was lead by Accel and will be used to accelerate product development and expand into international markets. This brings the total amount of money raised to $25M, with existing investors such as Cavalry, Playfair, Samaipata, and Triplepoint taking part in the initial funding round.

Nory has developed a proprietary platform powered by artificial intelligence for hospitality firms, allowing them to manage and scale their operations, as well as boost profitability by consolidating operational data into a single, unified source of truth.

The hospitality sector has been experiencing major closures and low EBITDA margins, making it challenging to find experienced and competent management. Nory's AI-powered technology has shown significant cost reduction and increased EBITDA for companies such as Buns from Home, Jamie Oliver Group, and Roasting Plant Coffee.

Nory's artificial intelligence does real-time data analysis and serves as an AI-venue manager, providing guidance to employees on maximizing revenue while predicting hourly venue demand with precision. CEO Conor Sheridan aims to systematize success for the restaurant business, and the Series A funding will aid in achieving this goal.