Pizza vending machine startup raises $10 million in funding round
Basil Street, an innovative pizza vending machine company, has closed a $10 million round of funding, setting the stage for a multi-city pilot program rollout launching in April across the United States.
Basil Street, an innovative pizza vending machine company, has closed a $10 million round of funding, setting the stage for a multi-city pilot program rollout launching in April across the United States. Using robotics technology, a groundbreaking cooking process, and fresh ingredients, Basil Street wants to change consumers’ perception of vending machine cuisine.
Basil Street machines feature three varieties of 10-inch Italian style, thin-crust pizza: four cheese, pepperoni, and a “pizza of the month,” selling for between $6.95 and $11.95. All of Basil Street’s pizzas are made with fresh ingredients and then flash frozen to preserve the flavor and freshness before being cooked to order in about three minutes. The cooking process utilizes the company’s patent-pending three-element, high-speed oven.
“After three years of perfecting the process to deliver unmatched brick-oven style gourmet pizza through the convenience of a stand-alone vending machine, we are excited about the next step to bring this unique proprietary concept, and more importantly, great-tasting pizza, to market,” said Deglin Kenealy, CEO of Basil Street, in a company press release. “This round of funding enables us to kick off our pilot program next month with the hopes of escalating into a full-scale launch of our kiosks by the end of Q3 in 2020.”
Locations for the pilot program are still being confirmed, but target regions include Texas, Kansas, Missouri, North Carolina, and Southern California, where Basil Street is headquartered.