Alphabet subsidiary Google Ventures has made its second investment in Poynt, which is preparing to commercially launch its smart payment terminal.
Poynt, the US-based developer of a smart terminal for retail stores, has raised $28m in a series B round backed by internet and technology company Alphabet.
The round was led by venture capital fund Oak HC/FT, and also featured Stanford-StartX Fund, as well as Alphabet subsidiary Google Ventures and fellow series A investors Matrix Partners, Webb Investment Network and Nyca Partners.
Poynt has built a smart payment terminal equipped with features like a touchscreen, hybrid card reader, barcode scanner and near field communication reader, as well as a dedicated security chip.
The series B capital was raised “a few months ago but only disclosed yesterday. It will be used to accelerate manufacturing of the terminal, increase Poynt’s headcount and scale its operations as it prepares to begin shipping its product.
The funding followed a series A round closed by Poynt in October 2014 that featured Google Ventures, Matrix, Nyca and Webb Investment.
This article first appeared on Global Coporate Venturing.
