Defiance Ventures Announces Investment in Swyft, Inc.
August 26, 2020
Defiance Ventures, the Charlotte-based venture builder, today announced it led an investment round in Swyft, Inc., the leader in unattended retail and retail automation. Tareq Amin, Co-Founder of Defiance, will also be serving on the board of Swyft and plans to advise on expanding the Swyft platform through AI and machine learning capabilities.
“We’re excited to invest in a company like Swyft, which has already seen considerable success with several Fortune 100 customers,” said John Espey, CEO of Defiance. “The products Swyft offers disrupt the traditional retail model, so for Defiance to be able to advise on SaaS growth strategy as well as more technical capabilities makes the investment a perfect fit for us,” added Espey.
Swyft is a software and data analytics platform that gives brands and retailers everything they need to build an automated retail presence. COVID-19 has caused increased demand for its unattended health focused concepts such as unattended CVS Health stores, PPE, and rapid result testing kits.
“We’re confident that the continued development of our technology, with the support of Defiance, will allow us to help our clients continue to grow – even in the COVID-19 economy,“ said Gower Smith, CEO of Swyft. He added, “We’ve proven our model for automated retail, and are excited to use this capital to secure additional locations for our customers and to capture the growing demand for unattended retail in the current environment.”
About Defiance Ventures
Defiance Ventures is a venture builder focused on B2B enterprise technology companies. It combines capital and early stage investment expertise with real world capabilities spanning marketing, branding, sales, application development, and cloud architecture to help its portfolio of technology companies to disrupt their respective industries. Visit https://defiance.ai/
Swyft, Inc. — the leader in unattended retail and retail automation — is a software and technology services company that sells, manages and/or operates unattended retail solutions for retailers and brands. All of Swyft’s solutions operate on its cloud-based software and utilize cutting edge robotic or sensor-based hardware. Swyft Inc., is also the parent company of ZoomSystems, the industry’s largest automated retail store operator. Visit https://swyftstore.com/