Glyde, an NJII startup, gets backing from venture firm that features Bezos, Zuckerberg

VentureLink@NJIT, the coworking and incubator space at the New Jersey Innovation Institute on the campus of New Jersey Institute of Technology, houses and supports a number of student-led startups. On Monday, NJII announced one has gained the backing of one of the most notable venture firms in the country.

GlydeApp, which provides contactless dining by automating the ordering and payment process for restaurants and their diners, is now backed by Village Global, the venture firm backed by some of the world’s most successful entrepreneurs, including Jeff Bezos, Sara Blakely, Bill Gates, Reid Hoffman, Mark Zuckerberg and others.

Glyde is an app that helps restaurants in New Jersey find a safe and affordable way of doing business during the pandemic by reducing the spread of COVID-19 as well as overhead expenses.

Anne Dwane, co-founder and partner at Village Global, said the firm liked what it saw in the app.

“We’re impressed with how Glyde enables restaurants to better serve their customers and helps restaurant servers with their day-to-day work — resulting in better diner experiences and more restaurant success,” she said.

Glyde’s co-founder and chief operating officer, Samir Peshori, said the time is right for the app.

“COVID-19 has created a huge demand for innovations that lead to touchless experiences to ensure safety and security now,” he said. “With Glyde, we not only deliver a safer dining experience, we also streamline ordering and payment processes and help improve customer service.”

Next steps for Glyde include expanding its presence in restaurants across the tri-state area and leveraging the expertise and strength of Village Global to scale operations and continue to enhance its platform to meet the needs of restaurants and diners around the world.

John Pescatore, owner of Carlo’s Gourmet Pizza in Marlboro, said he is a believer.

“Not only has this app helped stop the spread of COVID-19, but, also, with the hit that we took from a financial aspect, Glyde has helped reduce overhead cost,” he said. “With a friendly design and easy-to-use interface, it gives all my customers a positive experience — I couldn’t have designed it better myself.”

NJII’s VentureLink@NJIT is the state’s largest startup hub and coworking space. In addition to providing state-of-the art coworking and private office space, NJII’s Entrepreneurship division also provides mentoring and programming for startups and entrepreneurs, which is available at no cost to NJIT students.

William Lutz, general manager of the entrepreneurship division of NJII, explained the process.

“As an NJIT student, Samir received ongoing mentoring from our team, a space to work and an opportunity to network with other residents of VentureLInk and members of the community,” he said. “Samir and Glyde have been diligent in their pursuit of a solution that works for their audience. We can’t wait to see what the future holds for them.”

Learn more about Glyde and VentureLink@NJIT in this video.

Read the full article here.

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