IU Ventures invests in smart sampling startup
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One of the investment arms of IU Ventures is investing in a company making it easier for people to test new products. The IU Angel Network is supporting Chicago-based Showdrop, an automated sampling startup using kiosks.
IU alumnus Alex Segura founded the company intending to tap into consumer curiosity about a product and increase brand awareness. Showdrop launched the smart sampling kiosks in October 2022.
“As a consumer, I often encountered products that looked intriguing but lacked a way to test or sample them,” Segura said. “This led me to consider the pain points in the retail industry and how we could offer a better solution.”
Showdrop, repurposing vending machines and equipped with advanced software, focuses on consumable products, specifically consumer packaged goods. It monitors the number of samples, inventory as well as customer data.
“Showdrop’s smart sampling kiosks provide both emerging and established CPG brands with the opportunity to put their products into consumers’ hands in a way that is truly unique,” said Kate Evinger, associate director of the IU Angel Network and senior analyst for IU Ventures. “Showdrop meets consumers where they are and provides them with engaging, educational sampling experiences. It is exciting to see the innovation they are bringing to product sampling, and we are thrilled to get to support them in their journey.”
IU Ventures invests in and provides support for IU-affiliated early-stage companies through the IU Philanthropic Venture Fund, IU Angel Network, Shoebox Fund and Innovate Indiana Fund.