HK bento vending machine startup secures $2.8m pre-series A funding

Wada Bento, a Hong Kong-based vending machine startup, has raised HK$22 million (around US$2.8 million) in a pre-series A funding round from Golden Resources Development, Cyberport Macro Fund, HK Tech 300, Gravity Capital Partners, and EthAum Capitals.

(From left) Wada Bento co-founders Eric Ng, Stephen Chan, and Jason Chen / Photo credit: Wada Bento

Founded in 2018, Wada Bento has developed a vending machine that can serve hot meal boxes – called bentos – in 17 seconds. It helps restaurants and food producers that want to expand their reach without opening new outlets.

The company also acquired certification from Hong Kong’s Mass Transit Railway (MTR) to roll out its vending machines in MTR stations.

Wada Bento was established by Jason Chen, Stephen Chan, Eric Ng, Kenny Yau, and Manabu Oikawa. The firm has sold 250,000 bentos from prominent brands such as Cafe de Coral, Cafe de Beans, and Lazy Pot.

After the deal, the startup said that it will enter other markets, including China’s Greater Bay Area. Currently, it has deployed vending machines in Circle K branches in Vietnam, and it has partnered with a Japanese bento chain that will see it using Wada Bento’s tech starting in the fourth quarter of the year.

See also: These are the most active investors in Hong Kong’s startups

Currency converted from Hong Kong dollar to US dollar: US$1 = HK$7.85.