Nectar Labs Brings the Liquor Industry Into The 21st Century With the First End-to-End Solution to Reduce Shrinkage and Automate Inventory Management

PALO ALTO, Calif. — May 11, 2017 — Everyone in the hospitality industry knows heavy pours can do heavy damage to the business. They also know dated manual pen and paper inventory tracking methods are absurd. These inefficiencies are costing the industry more than $50 billion a year globally, and it does not have to be this way. That is why today, Nectar Labs is introducing a solution with the launch of its first product: the connected pourer and stopper which combines ultrasound technology and a software platform to precisely measure how much alcohol is left in a given bottle for automating inventory, managing shrinkage and self-replenishing. Nectar literally puts a cap on the multi-billion dollar lost revenue crisis that impacts any business with a bar.

Starting at just $299 month – including hardware and the app — Nectar is already live and has been used to manage more than 100,000 live pours in select locations such as the W Hotel in Miami and Dosa Restaurant in San Francisco. The company invested more than 50,000 hours of R&D time into the product, which includes more than 2.5 million pours using custom robotic arms in its lab to test for accuracy and durability.

Created by two entrepreneurs with more than 20 years of experience building consumer products, Nectar’s caps and associated platform are designed to seamlessly fit a bar’s current operation. The proprietary pourer and stopper will hold up to everyday demands of bar life without slowing bartenders down. Each cap continuously communicates with the app, keeping track of inventory in real-time. When a bottle is finished and replaced, Nectar automatically depletes it from inventory, and when inventory is running low, orders can be placed directly with distributors saving bar managers precious time and money so they can focus on customer experience instead of the stock room.

“Nectar has delivered powerful insights that were impossible to identify before, said Anjan Mitra, owner of DOSA restaurant. “These have dramatically improved our operations, ranging from 24/7 inventory management to one-touch ordering, so our bar managers don’t work after hours to keep in-demand liquor in stock. Instead, they can focus on delivering the best possible guest experience and creating amazing cocktails.”

“Nectar is doing for alcohol consumption data what Google did for click through data. By bringing disciplined metrics to a previously unmeasured space, Nectar is closing the massive information gap to make the bar industry more intelligent and efficient,” said Aayush Phumbhra, co-founder and CEO of Nectar. “With sell-through data available in real-time, and self-replenishment a reality, Nectar will improve the unit economics of the industry.”

Unlike anything on the market, Nectar’s caps offer:

• Universal Fit: Each cap is designed for a perfect seal for every alcohol bottle on the market
• Industrial Strength Construction: An airtight seal withstands the wear and tear of bar life; guaranteed to be alcohol and wash-proof.
• Simple Setup: Setup and data interface are intuitive and do not require extensive training or any additional software.
• Deep Data Insights: Bars, restaurants, the hospitality industry, and distributors can now understand shrinkage and manage inventory in real-time, giving them the ability to optimize operations.
• One-touch Ordering: Create orders and email them directly to distributor reps with one touch.

“Until now precise inventory control and management have been guesswork. It’s insanely difficult to track how much bars and restaurants serve — and lose — on a given night, let alone over a month or a year,” said Prabhanjan “PJ” Gurumohan, co-founder and COO of Nectar. “Nectar’s technology tackles this global, multi-billion dollar problem by seamlessly integrating into a bar’s existing operations. It’s accurate, non-invasive, and doesn’t force the bartender to change how they do their job.”

Founded by experts in consumer products and digital platforms, Aayush Phumbhra and Prabhanjan “PJ” Gurumohan bring more than 20 years of experience to Nectar. Phumbhra co-founded Chegg, the disruptive solution to expensive textbook purchases, raised $500+ million and evolved the company from a boot-strapped startup to a multi-million dollar publicly traded digital learning platform (NYSE: CHGG). Gurumohan was the co-founder and CEO of Genwi, one of the largest cloud publishing solutions that’s used by more than 1,500 customers like Condé Nast, Forbes, and PBS.

Nectar is currently taking orders for future shipments of its connected pourers and stoppers. To upgrade your bar and learn more about Nectar, sign up to receive the latest news at getnectar.com.

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About Nectar Labs

Nectar Labs has created the category of automated replenishment and inventory management systems for liquor and consumer packaged goods. Combining ultrasound technology, IoT, and sophisticated software, Nectar Labs’ first product — the Nectar Connected Pourer and Stopper — is designed to help put a cap on the 50 billion dollars lost revenue crisis impacting the bar and hospitality industries. The Connected Pourer and Stopper fits on any given bottle and integrates seamlessly into any establishment’s s point of sale system to keep track of inventory in real-time, saving precious time and money and maintaining higher levels of satisfaction among employees.

Founded in 2014 and headquartered in Palo Alto, Nectar is backed by leading investors in software, hardware and digital platforms such as Palantir co-founder and venture capitalist Joe Lonsdale, Eclipse Founder Lior Susan, founding family of the Modelo Group, founder of Streamlined Ventures Ullas Naik, restaurateur Ari Ojalvo, co-founder of KNR hospitality Karim Masri, co-founder of GoSpotCheck Samantha Holloway, managing partner at Soma Capital Aneel Ranadive, venture capitalists Cameron and Tyler Winklevoss, CEO of Chegg and former COO of Yahoo! Dan Rosenweig, founder of Radius, Darien Shirazi, Adam Hanft and founder of Level Ventures Albert Azout.

To learn more, visit getnectar.com.

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Contact Information

Molly O’Connor

Account Manager

VSC/Wareness for Nectar

Contact via E-mail