Paris-based startup Totem has raised €4m ($4.7m) in a funding round led by Maki Ventures, alongside existing investors Samaipata Ventures and Tekton Ventures. Totem creates connected food and drink vending machines for workplaces, including smart water fountains and coffee machines that allow employers to receive notifications of technical issues. The company, which was founded in 2017 by Rafael de Lavergne and Pierre Gallet, has already installed its systems in more than 10,000 workplaces in the Paris region. Totem said it will use the funds to expand its commercial activities and open a second location in 2021, as it aims to offer nationwide delivery.
This new funding round is an important milestone for Totem, as it will help the company to grow its business and extend its reach beyond the Paris region. The participation of Maki Ventures, an early-stage venture capital firm, highlights the potential of Totem's technology and business model. The startup's existing investors, Samaipata Ventures and Tekton Ventures, have also shown their confidence in the company by participating in this funding round.
Totem's mission is to revolutionize workplace food and drink by providing connected and smart vending machines that offer healthy and customizable options to employees. With the rise of remote and flexible work, many companies are looking for new ways to improve their employees' work experience and wellness. Totem's technology enables employers to offer high-quality food and drink options in the office, while also collecting data and feedback from employees to improve the service. The startup's focus on innovation and customer satisfaction has helped it to establish a strong presence in the Paris region, and the new funding will enable it to expand its business and reach more customers across France.