March 9, 2023 (Edmonton Metropolitan Region) – Dyne Technologies Inc., a SaaS startup has announced their expansion into the Edmonton region. The expansion represents a $500,000 investment with plans to grow that significantly over the next several years. So far, the company has hired one employee in the Edmonton region but plans to expand that to seven team members by the end of 2023.
Dyne uses machine learning and data analytics to help restaurants improve their profitability through smart-surge pricing, automated marketing and revenue optimization strategies. The company is currently headquartered in Vancouver and operates in four cities across Canada. Dyne has built a strong partnership with the University of Alberta including two research projects which were instrumental in fueling its early growth. The startup has partnerships with over 700 restaurants across Canada and has been able to provide value with an estimated increase of $10 million in revenue across the partners.
Some of their funders include Weave VC, Inverted Ventures and Valhalla Private Capital. Dyne has secured a 5-year partnership with Microsoft to collaborate on joint co-marketing, sustainability campaigns, technical scalability through Azure and OpenAI, with the ultimate goal to accelerate and expand Dyne across Canada and beyond.
Edmonton Global worked with Dyne to support their expansion by connecting them to the local ecosystem and providing support and advice in accessing funding, recruiting talent, and introducing them to potential partners.
Over the next six months, Dyne will be focused on building new partnerships within the Edmonton region and growing their capacity. They are also focused on attracting large restaurant brands to adopt their SaaS tool.
“Valhalla are proud investors in Dyne. We have been impressed with Arnav’s ability to assemble an amazing team and the traction speaks for itself. Dyne is one of the fastest growing platforms in the market. We’re expecting amazing things from Dyne as they transition from Startup to Scaleup! Come Dyne with them!” – Teruel Carrasco, President, Valhalla Private Capital
“I was overwhelmingly pleased with our first official Edmonton event “Connecting Edmonton Entrepreneurs,” bringing together an amazing assortment of local investors, business developers and entrepreneurs. With such a warm welcome from Edmonton, Dyne is excited to further develop and expand operations in Alberta and we look forward to host many more events in the vibrant city of Edmonton!” – Arnav Mishra, CEO, Dyne
“We’re excited to welcome Dyne into the Edmonton Metropolitan Region. Edmonton was ranked the fasted growing tech ecosystem in 2021 by CBRE and we are developing, attracting, and retaining some of the best talent in artificial learning and machine learning in the world. Attracting startups like Dyne is key to growing the economy of the Edmonton region – companies like this can scale rapidly and create good quality jobs. We’re looking forward to watching their growth and the positive impacts that they will have on our local hospitality sector.” – Malcolm Bruce, CEO, Edmonton Global
“I am incredibly excited to welcome Dyne to Edmonton, and look forward to their additions to the ongoing growth occurring in the city.” – Colin Tran, Founder & President, NXT-GEN (University of Alberta Student Group)
About Dyne:
Dyne connects people over food via our B2C Dyne App. The Dyne App helps users connect with friends old and new, join communities based on their interests, discover hidden gems and exclusive events in their cities, and rewards users with coupons and gift cards – all in just 5 clicks!
We also help restaurants’ growth via our B2B Dyne Dashboard. Using AI and machine learning, the Dyne Dashboard provides an all-in-one restaurant marketing, optimization and analytics solution. The Dyne Dashboard helps restaurants optimize their operations and increase profitability by offering a wide range of features including inventory management, customer insights, and sales forecasting.
About Edmonton Global:
The purpose of Edmonton Global is to radically transform and grow the economy of the Edmonton Metropolitan Region. We are a not-for-profit corporation founded by 14 municipalities that make up the Edmonton Metropolitan Region. Our focus is attracting foreign investment, helping regional businesses export with the world, enhancing our region’s global competitiveness, and bringing our region together with a unified voice to attract the attention and interest of investors the world over.
Contact Edmonton Global
Sherri Bouslama
Manager, Brand Strategy and Communications
sbouslama@edmontonglobal.ca
780-996-1524
