Nory, the AI-native restaurant management startup, has raised $37 million in Series B funding to accelerate the rollout of its platform, which helps hospitality businesses cut costs, streamline operations, and improve profitability.
The round, led by Swedish investor Kinnevik, brings Nory’s total funding to $63 million. Existing backers including Accel also participated, underscoring investor confidence in the company’s vision and growth trajectory.
The announcement comes at a pivotal moment for the UK’s hospitality sector, which is grappling with rising employment costs, inflation, and labour shortages. Official figures show pubs, bars, and restaurants are closing at a rate of two per day, with industry groups warning that April’s new employment taxes are piling yet more pressure on already strained margins.
Nory was founded by Conor Sheridan, a hospitality industry insider who saw the need for smarter, AI-driven tools tailored to restaurants’ unique operational challenges. Its system spans business intelligence, inventory, workforce management, payroll and finance, delivering an end-to-end back-office solution.
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