Aberdeen-headquartered faster drinks firm EBar is celebrating a successful six months after achieving more than £1 million in platform sales and raising £844,000 in fresh investment.
The Bridge of Don-based firm is now set to double its fleet of kiosks across the UK to 50 and open a base in London.
EBar, created by entrepreneurs Sam Pettipher and Nick Gleeson in 2016, aims to dramatically improve the consumer experience at music and sports events, using innovative dispensing technology to reduce the time people spend waiting in bar queues.
A combination of the tech start-up’s patented dispenser and rapid payment technologies allows beer or soft drinks to reach customers in less than 30 seconds, meaning people attending major events spend less time waiting in queues.
In the last six months, EBars have been deployed to more than 40 major sports and entertainment venues including Murrayfield, Twickenham and Fulham FC’s stadium Craven Cottage.
The latest funding was provided by the ROD Consortium, London-based Jenson Funding Partners, crowd-funding platform Seedrs, and angel investor groups Gabriel and Equity Gap -all of whom have previously invested.
‘Change the way the world is served’
Mr Pettipher said: “We have raised more than £2 million since starting in 2016.
“We have a fleet of 25 EBar kiosks at the moment and are doubling that up to 50.
“It will also allow up to open a southern base near London to better service the clients at Cheltenham, Twickenham etc.
“We always wanted to change the way the world is served. That was always our ambition but in reality even just the geographic spread of the company now, we’ve got teams coming to work every day down in Yorkshire.
“It’s quite amazing there’s stuff going on. When I’m in bed we have events on and we have a team working.
“We have really become a seven-day-a-week business serving thousands of pints every week.”
Mr Pettipher and Mr Beeson, managing director and commercial director respectively, worked in the renewable-energy and oilfield services industries respectively before honing their business skills in postgraduate studies at RGU.
Mr Beeson said: “There has been tremendous demand for our EBar dispense kiosks since we started operating at commercial scale.
“We have seen that our high service speed allows event operators to capture revenues that are otherwise lost due to long bar queues.
“We’re growing fast so that we can support more customers who are struggling with staff shortages and increased costs, and who want to delight their customers.”
Move into US market
The latest equity raise will also be used to enable the tech start-up to continue research and development of new innovative offerings for customers, as adoption of self-serve beverage technology takes off across the globe.
Mr Pettipher said: “International is on the horizon.
“We have ambition to grow in the UK and lots of different technologies in addition to our kiosks.
“Potentially looking at built-in solutions. Not just take in and take out. Permanent fixtures to replace kiosks
“But also internationally, the US and European market is absolutely humongous for us.
“Ten times population just in one state. It’s very exciting.”
Investment history
Their idea for faster drinks – further developed during a business accelerator programme run by Aberdeen-based Elevator, won them a gong and £75,000 at the Scottish Edge awards in 2017.
That cash boost was followed a year later by a £228,000 injection of equity investment led by London-based Jenson Funding Partners’ SEIS and EIS Fund, with the likes of angel investor groups Gabriel and Equity Gap among those backing the business.
In early 2019, with EBar having successfully trialled its speedy, automated, self-service drink kiosks at a string of high-profile events at venues including P&J Live, in Aberdeen, Old Trafford, in Manchester, and Twickenham, in London, the firm launched a crowdfunding campaign to help it refine its innovative technology and build more units.
The £670,000 equity fundraiser was led by crowdfunding platform Seedrs, which boasts Scots tennis star Sir Andy Murray among its investors, and Irish events entrepreneur Robert O’Dowd.
Conversation