A relatively young startup was able to obtain a funding of $20 million for their project which entails setting up around 5,000 vending machines throughout the country.
The startup venture, TechnoSync Solutions is the brainchild of IBA Alumnus, Fawwad Haider. The firm deals with providing Integrated Software Solutions, Retail Solutions, Virtual Desktop Infrastructure Solution and Customer Communications Management services.
An MoU was officially signed between IBL Operations Pvt. Ltd and TechnoSync Solutions at AMAN Center of Entrepreneurial Development (CED) in IBA where Dr. Sayeed Ghani, the currently acting Director and Dean IBA was also present.
The new venture will be setting up vending machines across 66 cities at numerous hospitals, firms, educational institutes and other public spaces.
According to Haider, “Gradually, the network of machines would spread all over the country.” Azad Ahmed, Manager-Incubation & Outreach Activities at CED, the vending machines would house sodas, snacks, and chocolates. The vending machines will also include other products in the market other than the ones distributed and marketed by IBL Operations.
IBL distributes and markets products for more than 24 companies both local and international which belong to different industries such as FMCG (fast moving consumer goods), pharmaceutical and packaged food.
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