Business

Student-run Dorm Room Fund makes first investment in soda machine maker

The Refresh vending machine is designed to reduce energy use and costs by storing bottles that are filled on the spot.
The Refresh vending machine is designed to reduce energy use and costs by storing bottles that are filled on the spot.Credit: Refresh Water Technologies

This is a summary. To read the whole story subscribe to BostonGlobe.com

If you gave a bunch of college kids half a million bucks to invest in companies run by other college kids, what would they do with it? They’d invest in a business that makes soft drink vending machines, of course.

Boston’s Dorm Room Fund, which 11 local college students manage for Philadelphia-based First Round Capital, has made its first-ever investment: $20,000 in Refresh Water Technologies, an MIT startup with a prototype that it claims can reduce a vending machine’s carbon footprint by 80 percent.

Instead of holding prefilled soda and water bottles, a Refresh machine stores empty, collapsed bottles that can be expanded and filled whenever a thirsty customer deposits quarters or scans a credit card.

Full story for BostonGlobe.com subscribers.

Get the full story with unlimited access to BostonGlobe.com.

Just 99 cents for four weeks.

Share