IBar Startup Receives HUF 170 mln Investment

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Image by iBar

IBar, a startup company in the hospitality industry developing mobile applications for restaurants, pizzerias, bars, nightclubs and hotels, has acquired a HUF 170 million investment from fund manager Hiventures.

“Good inventory management is essential in restaurants, [and the] process of reconciling theoretical and physical inventory can be extremely time-consuming and expensive due to the potential for error. We want to solve this complex problem with an easy-to-use, convenient digitization solution that uses artificial intelligence to perform the task,” shares Boglárka Várkuti, managing director and founder of iBar.

“The support of Hiventures enables us to reform the hospitality industry software market as a market innovator, thereby contributing to the efficient and sustainable operation of restaurants, among other things,” she adds.

The stock management application of iBar, founded in 2020, enables the management of stocks with the use of artificial intelligence where users can track inventory with the app. The application can be integrated with existing restaurant software systems or be used as a stand-alone system.

According to the company, their mission is to put the inventory management processes of the hospitality industry on a new foundation and to expand in additional areas with the successes achieved. They plan for the application to be integrated with suppliers after further development so that users can always place their orders considering the current prices and availability.

"iBar's unique solution is revolutionizing the hospitality industry, and we are proud to be a part of this development. The iBar team is looking forward to an exciting future, and we continue to stand by them, actively contributing to the implementation of their plans for further product development, scaling, and international expansion," says Dénes Szluha, head of Hiventures' startup business.

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