Startup PopCom to provide biometric vending machines for regulated products
Smart vending machine company PopCom has launched a Security Token Offering (STO) to raise up to $943,000 in funding to support the development of a blockchain-powered product ecosystem for sales of government-regulated products such as cannabis, pharmaceuticals, and alcohol, Black News reports.
PopCom’s software and API for vending machines and kiosks feature demographic analysis, facial and emotion recognition, and other customer engagement features, and support biometric payments. The new version 2.0 of the company’s platform leverages biometrics, blockchain, and smart contract technology to enable secure, compliant transactions. The new version will be launched initially as a turnkey solution, with the API version following for broader integration.
Founder and CEO Dawn Dickson has appeared on the cover of Black Enterprise magazine and was named one of Inc. magazine’s top 100 Female Founders for 2018, according to Black News.
“As a company that exists on the forefront of product innovation in our industry, we see the blockchain revolution as an amazing frontier for further innovation in retail.” says Dickson. “We believe it’s the key to enabling better consumer access in markets like cannabis, pharma, and alcohol while still preserving privacy and compliance.”
PopCom has raised more than $900,000 previously from several startup funds, and has raised just under $30,000 in its STO so far.
The compliance features offered by PopCom include inventory track-and-trace, dosage information displays for customers, and auditable records. PopCom has a pilot upcoming with consumer product giant Procter & Gamble, and plans to pilot the new compliant automated retail technology in Q4 2019.
Among a number of companies around the world developing biometric vending machines, Le Tach is planning to expand its network of machines in Singapore from 400 to 1,000.