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Scottish MarTech firm Hyble has obtained $2 million (£1.5m) in venture debt funding from Virgin Money, financing that will expedite the launch of its new AI-driven platform and aid in growth within the U.S. and European beverage sectors.
The Edinburgh and Glasgow-based enterprise, which specializes in assisting beverage brands and distributors with managing point-of-sale (POS) implementation for the on-trade, stated that the investment would support the introduction of Hyble 2.0, its advanced platform aimed at delivering AI automation, speed, and quantifiable ROI to beverage marketing.
The funding follows a period of swift progress for Hyble, with revenue increasing 93 percent year-to-date compared to the same timeframe last year. This growth has been fueled by robust corporate demand in North America and an uptick in adoption across both alcoholic and soft drink categories in the U.S. and Europe.
One of Hyble’s significant advancements has been its collaboration with Southern Glazer’s Wine & Spirits (SGWS), the largest beverage distributor in the U.S. This partnership showcased the platform’s capacity to decrease print turnaround times by over 60 percent, reduce operational expenses, and enhance field sales execution.
“Hyble 2.0 will leverage AI to revolutionize how menus and POS are designed, launched, and optimized — equipping sales teams with more intelligent resources, expedited execution, and measurable ROI,” remarked Craig Letton, CEO and co-founder of Hyble. “This investment enables us to intensify our focus on innovation, broaden our U.S. presence, and continue to provide value for the world’s leading beverage brands and distributors.”
As part of its next growth phase, Hyble is recruiting six new AI engineers across its Scottish offices, focusing on further improving automation and usability of the platform. In the U.S., the company has promoted Katie Hoare to General Manager and is expanding its sales team to seize growing demand.
Catriona Penny, Senior Director of Venture Debt at Virgin Money, stated: “Hyble is a fantastic example of the type of rapidly-growing, technology-focused business that we are delighted to support. Their commitment to addressing real-world execution challenges for global beverage firms with AI, data, and operational efficiency aligns perfectly with the innovation that will define the upcoming generation of market leaders.”
With new capital secured and an AI enhancement on the horizon, Hyble is positioning itself to solidify its presence in the U.S. while reinforcing its stature as a transformative force in global beverage marketing technology.
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