Gourmet Pizza Vending Machine Start-Up Basil Street Raises $10 Million in Priced Round of Funding
Fundraising Effort Enables Kick-Off of Pilot Program in April
Press Release (PRNewswire.com)
The revolution of truly gourmet pizza vending machines throughout the country is upon us. It was announced today that Basil Street, a high-tech, innovative pizza vending machine company, has closed a $10 million priced round of funding, setting the stage for a multi-city pilot program rollout launching in April across the United States.
Using state-of-the-art robotics technology, a groundbreaking cooking process and the freshest ingredients, Basil Street is primed to change the way consumers think about vending machine cuisine forever.
"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. "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. In a time of robotic solutions, this one is truly revolutionary."
The initial machines in the pilot program are in high-demand, as the company has received numerous requests to participate. Those inquiring include large corporate facilities, major medical facilities, universities, military bases and sporting arenas throughout North America. Basil Street is also building a list of global interest for future deployments. In addition, two machines will be delivered to a Basil Street partner, who is one of the world's largest food and beverage manufacturers.
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.
Basil Street machines feature three 10-inch Italian style, thin crust pizza offerings: four-cheese, pepperoni and a "Pizza of the Month" selling between $6.95-$11.95. All of Basil Street's pizzas are made with the freshest ingredients and then flash frozen to preserve the flavor and freshness before being cooked-to-order in about three minutes. The cooking process utilizes their patent pending three element non-microwave speed oven. The combination of the revolutionary oven technology and pizza quality create a finished product that rivals a high-end brick oven pizzeria. Basil Street has figured out how to deliver a wood-fire oven experience pizza in a fraction of the time.
Basil Street's business model focuses on providing value and great tasting, high-quality, health-conscious products for its customers. To ensure these values, Basil Street will stock their machines on a weekly basis, utilize the best quality ingredients to create a fantastic product for the masses.