Wayra and BStartup (Banco Sabadell) invest in Proppos, the startup that accelerates payments in restaurants with artificial intelligence

Proppos, a Catalan startup specializing in food recognition using artificial intelligence, has closed a €750,000 funding round led by Banco Sabadell's BStartup, with participation from Wayra Spain, Telefónica's innovation hub.

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Proppos' business model aims to improve restaurant performance by using big data to speed up queues, especially during peak hours, improving the customer experience and productivity. Proppos Fastpay, the startup's first solution, has already been implemented through pilot tests in leading establishments in the food service sector, such as cafes and fast-food restaurants.

Proppos operates through smart point-of-sale terminals that recognize the product and price, and process payments completely automatically without the need to scan barcodes. The solution has proven to be ten times faster than the traditional payment process used in these types of services.

With this investment, Wayra and Sabadell are committed to boosting the development of a business project focused on providing high-value-added solutions to the food, equipment, and services production and distribution sector. The funding round, which also included participation from public entities such as Neotec (CDTI) and Startup Capital (ACCIÓ), aims to boost the development of this technology with other leaders in the food service sector in order to consolidate this solution as a leader in Europe in terms of AI-powered self-checkout solutions.

“At Wayra, we remain firmly committed to supporting the entrepreneurial ecosystem more than ever by investing in brilliant projects like Proppos, which, with its technology, are driving the transition to digitalized restaurants,” explains Marta Antúnez, director of Wayra Barcelona. “Our goal is to position Proppos as a European leader in food recognition using artificial intelligence, providing high-value-added solutions to the Food Service sector,” says Nil Salomó, CEO and Co-founder of PROPPOS. “With this capital increase, we aim to consolidate our position nationally and take our first steps internationally.” Jose Manuel Carol, Operations Director of BStartup Banco Sabadell, comments on the operation: “The restaurant industry is moving towards digitalization with the use of technologies that optimize processes, improve decision-making, and above all, enhance the customer experience. In this sense, we believe that Proppos' solution brings added value to the sector.”