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Bruce Ginsberg, CEO of MooBella, with a sample made by one of his company’s machines.

Monday, November 15, 2010

MooBella scoops up $9M in new funding

By Rodney H. Brown

MooBella Inc. has capped off a big location win with a new round of funding. According to federal documents, the Taunton company has brought in $9 million in its latest funding round.

Last month MooBella announced it had won approval to site its on-demand Ice Creamery machine at Massachusetts’ Logan International Airport and New Hampshire’s Manchester-Boston Regional Airport. The Logan machines are located in the Back Bay and Lean & Green Cafes, both in Terminal C, while the Manchester Airport machine can be found at the Great American Bagel Bakery in the passenger boarding area.

MooBella landed $18 million in its second round of funding in the third quarter of last year from its sole backer Inventages Venture Capital Investment Inc. Its first round, worth $25 million, came in 2007 from Inventages. 

While the filing with the U.S. Securities and Exchange Commission do not list the backers, it did note there was only one, and listed as a director of the company Erich Sieber, senior vice president at Inventages.

MooBella’s ice cream machine combines food distribution and technology in a stand-alone vending system that creates fresh, hard-packed ice cream in less than one minute. While the company launched its first pilot machines in New England in February 2006, including at Brandeis University and at Children’s Hospital Boston, it went through a siginificant re-engineering last year.
 

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