Venduster, a company manufacturing and operating kiosks, is penetrating and highly successful in the vending machine market with its brilliant idea.
Venduster’s main product is a kiosk vending machine optimized for offline locations that combines a kiosk and vending machine to reduce size and increase efficiency.
It installs an integrated kiosk, that can sell products, in locations with high human traffic and delivers various content to consumers.
“During business trips to Japan and Hong Kong, observing how kiosks and vending machines were systemized and satisfied its consumers was inspiring,” said CEO Noh Ju Hyeon. “I was certain it would have growth potential in Korea so I started the business.”
Venduster has installed kiosk vending machines in Lotte amd Shinsegae department stores, and the Incheon International Airport with positive reviews.
What is behind Venduster’s success?
In previous kiosk vending machines, each device (kiosk + vending machine) had to be separately connected, which increases price and size, and there were a lot of problems in efficiency when trying to systemize it as a platform
Venduster improved this aspect and developed an integrated device which combines the two features and can manufacture a platform device that costs 80% less.
“Our sample kiosks can have a compact design so that it can be installed in any small space with value,” said Noh.
Venduster is focusing on expanding its service in preparation to go global.
For this, Venduster was selected for the Global IR Project in September which is run by the Yonsei University Campustown Center to help startups that want to go global.
The company will get a chance to participate in the ‘A-STREAM’ event on November 8th, hosted by the global accelerator company Y&Archer. Through this showcase, it will get investment feedback from foreign investors and network with global and domestic VCs and institutions to get their support for a successful global market entry.
“Our business model is in a market with mostly global success stories,” said Noh. “Not only for marketing in the domestic consumer goods market, but it also has the potential to go global and needs to increase its global capacity.”
“We are aiming to install 1000 kiosks in Korea by 2024,” he added. “We want to launch an online sample subscription service and grow as a global export platform that connects various products and services from various countries.”