Embargo, a hospitality tech startup based in the UK and Poland, has received a £350,000 UK Smart Grant, as Vestbee was informed. The funding is designated to develop an AI-driven CRM platform for hospitality businesses.
- Established in 2017 by Fryderyk Szydlowski and Tsewang Wangkang, Embargo is a CRM platform and digital loyalty wallet designed for the hospitality industry.
- The platform enables restaurants, bars, and coffee shops to capture customer data, automate marketing, and enhance retention through its Embargo Portal CRM and Embargo Wallet app.
- Customers use the app as a digital loyalty card and an ordering system for in-store purchases, pickup, and delivery. Businesses benefit from data-driven insights and automated engagement tools that help increase customer visits, spending, and overall revenue.
- According to the startup, Embargo has surpassed 11 million app transactions, nearly 50% of which occurred since January last year. Nearly 2,500 food and beverage SMEs use it, and it has experienced a 200% revenue increase over the past 24 months.
- In 2024, the firm secured $850,000 in funding from Opoka TFIR and business angels to further develop its product and expand its sales team in the UK and Poland.
Details of the deal
- The funding came from the UK Smart Grant, a government program that supports innovative projects driving technological advancements.
- Embargo will use the funding to develop an AI model for its platform, which will help hospitality businesses optimize sales, marketing, and customer engagement.
- The AI system will analyze customer data to provide personalized recommendations, improve loyalty strategies, adjust pricing, and refine product offerings, making the platform more powerful and efficient for SMEs.
“We are beyond excited to be receiving the backing of the UK government and being able to take our mission and vision to the next level. SMEs deserve the highest level of technology in an easy to use, scalable form. And we have already shown that our platform has major impact on our customers’ growth. Our AI development will make it now even more powerful – giving them tools they never had," claims Tsewang Wangkang, co-founder of Embargo.
- In addition to the UK Smart Grant, Embargo is in the final stages of its EIS funding round, which will be used to accelerate market expansion, drive revenue growth, and enhance the development of its platform.
