San Francisco-Based Cantaloupe Systems Raises $12.4 Million

San Francisco -- Cantaloupe Systems, a San Francisco-based developer of wireless technology for the vending industry, said on Tuesday that it has raised $12.4 million in its third round of funding from Foundation Capital and Global Environment Fund. The company, which now has raised $18.4 million since its inception in 2002, said that it will use the latest proceeds to make investments in research and development, launch new products, explore possible acquisitions, expand its employee base and offer new pricing structures for its customers. Cantaloupe's Seed device monitors vending transactions and wirelessly transmits the data to operators, eliminating the need for physical visits to the machines.
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