University of Scranton grads launch Sylf alcohol dispensing startup via crowdfunding platform Wefunder
From a press release:
Sylf, a startup company created by University of Scranton graduates to enhance the bartending experience, launched its first fundraising campaign on Oct. 28.
Sylf is a tech company that offering an innovative concept that reinvents how customers receive their favorite beverages while on a night out. Sylf’s touchscreen alcohol dispensers, which provide customizable adult beverage options, have been given the nickname “the Coke Freestyle of the alcohol world.”
From fast food restaurants to amusement parks, the Coca-Cola Freestyle machine is everywhere soda can be dispensed. Similarly, Sylf plans to follow suit by offering 100+ beverage combinations to bars, nightclubs, stadiums, cruise lines, hotels, lounges, concerts, venues, and many more, all at the touch of a button.
With long wait times and drink inconsistency playing a huge role in nightlife, Sylf takes a “do it yourself” approach by providing a self-serve alternative to help aid the traditional bartending experience and finally allowing bar-goers the option to take control of the drinks that they order.
With Sylf’s first-of-its-kind Touchscreen Alcohol Dispensing Technology (T.A.D. Tech), guests will now have the option to dispense expertly crafted alcoholic beverages with the touch of a button. This means reduced wait times and, more importantly, their taste buds get exactly what they paid for. The next time someone is out with a group of friends, all they have to do is tap or swipe a payment method, select from 100+ beverage combinations, and press pour.
Sylf founders Keyser Leepier and Michael Spadavecchia have started to get the public invested in their startup using Wefunder, an equity crowdfunding platform that has been called the “Kickstarter for investing,” but unlike Kickstarter, users are not donating or buying a product from a company. Instead, they are investing in a business with the purpose and hope of earning a future return. As of 2016, regulation equity crowdfunding allows anyone with a bank account to invest in companies for as little as $100 regardless of their income status. The Sylf team has been adamant about getting their community involved, which is ultimately why they selected the Wefunder platform to run their campaign.
“Automated technology is the future, but self-serve alcohol dispensing technology is now! Sometimes receiving a beverage especially in crowded venues is a painful experience. I think anyone can agree with this to some degree. We wanted to alleviate the pain points associated with buying beverages. Specifically, we wanted to create a product that aids the bartending experience by reducing long wait times and drink inconsistencies with the use of innovative technology. Sylf offers guests just that!” said Keyser Leepier, the founder and CEO of Sylf who has a degree in business administration and entrepreneurship.
“We want patrons to have the option to take control of the drinks they order by introducing self-service technology to the food and beverage industry, an industry we believe hasn’t had any innovation in years.”
Alcohol dispensing is a massive industry accumulating well over $100 billion a year. With a market that big, new players are constantly trying to shift the economic landscape, so Sylf aims to make big waves in this industry while the self-serve market is still young. With only a handful of competitors and no major company specializing in cocktails or hard seltzer dispensing, Sylf is in a position to make a big splash.
“Our ultimate goal is to increase customer satisfaction and revenue for Sylf dispenser owners. We envision a world in which our fleet of Sylf beverage dispensers stand tall and proud in bars, restaurants, casinos, hotels, night clubs, venues, cruise lines, concerts, stadiums, and many more places across the country for everyone to enjoy together,” said Michael Spadavecchia, the founder and COO of Sylf who has a bachelor of science degree in entrepreneurship.
As of now, the Sylf team has set their minimum investment amount to $200 in hopes it will entice more people to invest in their touchscreen alcohol dispensing startup. Since launching solely to friends and family members, Sylf has accumulated $25,000+ in reservations within the first three days of their campaign’s “testing the waters” phase. With hopes of a bright future, Sylf plans to raise upward of $200,000 in the upcoming months following their campaign’s hard launch on Oct. 28. Public investments can be made now via their Wefunder profile.
