A few months on from launch, food and beverage company Coca-Cola Amatil has announced the first investment by its Amatil X arm, with the corporate venture platform taking a 20 percent stake in Australian startup Doshii. The figure invested was not disclosed.
Founded by Sean O’Meara in 2014, Doshii’s application programming interface (API) platform helps connect a developer’s apps and payment devices to point-of-sale (POS) systems, by providing them a standardised online space which is compatible with hundreds of different POS systems.
Chris Sullivan, group director of partners and growth at Coca-Cola Amatil, said the company’s investment will help Doshii accelerate its expansion into the Asia-Pacific region and South Africa.
“Amatil X was launched in April to support our business of today, and to explore future growth opportunities outside of our core business and beyond innovation in beverages. This includes investing in companies like Doshii, which is using an innovative, scalable technology solution to solve a challenge facing many of our customers,” he said.
“The ability to seamlessly integrate App and POS technology will help hospitality venues meet the increasing expectations of their customers by offering a better experience.”
Greg Williams, general manager of Doshii, said the startup is excited to have Coca-Cola Amatil on board.
“The team at Coca-Cola Amatil bring a wealth of local and international experience across the hospitality and retail space to our business. This investment will help us to deliver better services to hospitality and retail customers,” he said.
Doshii last year raised seed funding from Westpac-backed venture capital firm Reinventure and announced a partnership with Menulog that allows for the integration of Menulog’s service into any POS on the Doshii API platform.
The startup then began its expansion into Asia this past May, announcing an integration with POS vendor Raptor POS, which serves venues across countries including Indonesia, Malaysia, Singapore, Thailand, and Vietnam.
Amatil X, meanwhile, was launched in April as a “platform for emerging possibilities”, with Coca-Cola amatil group managing director Alison Watkins explaining at the time that it will support the development of concepts, startups, and early-stage businesses that “anticipate and address customer needs”.
Along with direct investment, the company is identifying relevant businesses through Xcelerate, a corporate accelerator program running in partnership with BlueChilli.
Among the 12 startups taking part in the first cohort are GlobalWhere, a data sharing platform for worker safety; NightRider, a New Zealand startup optimising under-utilised trucks and drivers; and PlastX, a a startup looking to solve plastic pollution by sourcing recovered plastic directly from communities.
Image: Sean O’Meara, Greg Williams, Chris Sullivan. Source: Supplied.