Nory, a London-based AI-native restaurant management platform, has raised $37 million in Series B funding, bringing its total investment to around $63 million. The round was led by Swedish investor Kinnevik, with participation from existing backers Accel, Samaipata, Base10, and Triple Point, reflecting strong confidence in the company’s growth trajectory.
The funding comes at a difficult time for the UK hospitality sector, which is contending with rising operational costs, labour shortages, and inflationary pressures. Official figures show that bars, pubs, and restaurants are closing at a rate of about two per day. Industry groups have warned that recruitment taxes introduced in April could further erode already narrow profit margins. Against this backdrop, Nory’s AI platform aims to help restaurants cut costs, streamline operations, and improve profitability.
Founded by Conor Sheridan, who has a background in hospitality, Nory combines business intelligence, inventory management, workforce scheduling, payroll, and financial oversight in a single system. By automating tasks such as rota planning and purchase and sales analysis, the platform claims to save supervisors more than 100 hours a month. Customers report that this efficiency can reduce operating costs by around 20 per cent and lift profit margins by as much as 50 per cent.
Nory’s AI learns from operational data and sales patterns to provide real-time insights and recommendations. Marketed as an AI assistant for hospitality teams, it helps frontline staff with resource allocation and decision-making, giving operators more control over performance and profitability.
Clients include Black Sheep Coffee, Jamie Oliver Group, and Dave’s Hot Chicken. The new funds will support expansion into the US and recruitment of data scientists to refine Nory’s algorithms and develop advanced assistant features.
Jose Jaytan de Ayala of Kinnevik described the company as “rewriting the hospitality playbook,” highlighting its ability to help restaurants adapt to rising costs and growing complexity. Investor backing reflects wider interest in AI solutions that automate operations while improving margins, at a time when the sector faces significant financial strain.
Nory has also published analysis of UK policy changes. Its research into the 2024 Autumn Budget found that the combination of higher National Living Wage rates, National Insurance adjustments, and reduced business rates relief could lower EBITDA by nearly 25 per cent for a typical venue generating £700,000 in annual revenue. Platforms such as Nory’s are being positioned as critical tools to offset these pressures by driving efficiency and profitability.
The Series B funding round and Nory’s expansion plans underline the growing role of AI in hospitality management. As the UK seeks to lead in responsible AI innovation, platforms delivering measurable cost savings and operational improvements demonstrate how technology can support resilience and competitiveness in the face of ongoing economic challenges.
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