Stockton technology company Vianet is growing its international exports supported by a £5.4 million funding package from HSBC UK.

Vianet Group plc – which provides real-time insights to reduce beverage waste in pubs and bars – has used the funding to expand further into the US, Europe, and India, as well as target new sectors.

After recently acquiring US company Beverage Metrics, the business will use the funding to accelerate the installation of its software as it offers new US customers a range of financing options for its beverage management platform.

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Vianet, which also manages unattended vending machines, is now exploring how its telemetry, connectivity, and payment solutions could be of use to different industries. As a result, the funding is also being used to support pilot trials of its adapted technology for petrol forecourts in the UK and mainland Europe.

James Dickson, chairman of Vianet, said: “People are realising how much real-time tracking data can help improve their product and profit margins. By providing transparency on every drink poured, our comprehensive beverage metrics management solution really does help operators cut waste, drive sales, and improve productivity.

“We’re really excited to be introducing our solutions to new markets and new sectors with HSBC UK’s support, and we can’t wait to realise the full potential that they’ll have in the USA hospitality and the European petrol forecourt space.”

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Stuart McLaren, Global Relationship Director at HSBC UK, added: “With the vending machine industry expected to be worth $146.6 billion by 2027, it’s been great to help this local business gain a stronger foothold in the market as they expand into new territory and diversify their offering.

“Vianet Group has great ambition, and we look forward to supporting the company’s journey in the years ahead.”

Vianet Group has installed its beverage management solution in 10,000 hospitality businesses across the UK, Europe, and the USA. In the vending sector, Vianet has devices monitoring over 30,000 vending machines. The platform provides operators with telemetry, connectivity, payment, management software, and energy-saving solutions to reduce businesses' carbon footprint.

The business, which employs 129 in-staff Stockton and seven internationally, was set up in 1995 and has been listed on the Alternative Investment Market (AIM) on the London Stock Exchange since 2006.