AI startup Nory raises $37m to help restaurants cut costs and boost profits

"Nory, the AI-native restaurant management startup, has raised $37 million in Series B funding to accelerate the rollout of its platform, which helps hospitality businesses cut costs, streamline operations, and improve profitability. The round, led by Swedish investor Kinnevik, brings Nory's total funding to $63 million. Existing backers including Accel also participated, underscoring investor confidence in the company's vision and growth trajectory."

"At a time when hospitality is under pressure, we are putting restaurants back in control of their profitability and their destiny. The future of hospitality isn't robots or gimmicks. It's AI that makes restaurants smarter, leaner, and more profitable, with automation that frees teams up to focus on what matters: great food and even greater customer experiences."

Nory secured $37 million in Series B funding led by Kinnevik, bringing total funding to $63 million with participation from existing backers including Accel. The funding targets acceleration of an AI-native platform designed to cut costs, streamline operations, and improve profitability across hospitality businesses. The UK hospitality sector faces rising employment costs, inflation, labour shortages, and daily venue closures, increasing pressure on margins. Nory's end-to-end back-office solution covers business intelligence, inventory, workforce management, payroll, and finance. Automation of rota planning, procurement, and sales analysis can save over 100 admin hours per site monthly, reduce operating costs by nearly 20%, and lift core net profits by up to 50%. The AI learns from historical operational and sales data to deliver real-time insights and recommendations for frontline teams.

Read at Business Matters