Skip to main content

Look out Amazon Go — A Lisbon startup plans to offer autonomous stores to other retailers

Look out Amazon Go. A Lisbon startup plans to offer the same autonomous store technology to other retailers. Lisbon-based Sensei, a computer vision startup that allows convenience stores to offer check-out-free purchasing, has secured a seed round of $6.5 million (€5.4 million). The funding was led by Seaya Ventures and Iberis Capital, with participation from 200M Fund.

The startup will now scale its R&D and launch new stores. Its proprietary platform uses a blend of cameras, sensors, and AI to automate stores, both new and existing. The platform means retailers can manage inventory in real-time and also access insights into the way the stores are used.

Vasco Portugal, Sensei’s CEO and Co-founder said: “Sensei’s technology will help level the playing field for retailers to compete against digital giants such as Amazon. We aim to enhance the familiar and enjoyable customer shopping experience, making it seamless, convenient, and safe.”

Sensei is designed to work mainly with grab-and-go stores, forecourts, and similar retail formats. Competitors include Trigo which has raised $89 million.

The advantages of automated stores in a pandemic are obvious: customers no longer have to queue. Plus retailers can avoid stock-outs and staff turn into customer support.

“We are delighted to invest in a business that is part of the digitalization of commerce, a trend that is currently clearly being accelerated,” said Aris Xenofontos, Principal at Seaya Ventures.

Luis Quaresma, Partner at Iberis Capital, added: “Sensei brings tremendous efficiencies and cost-savings to the retail industry, while providing a much needed seamless checkout experience for consumers.”

Sensei was founded by Vasco Portugal (CEO, ex-MIT), Joana Rafael (COO),Nuno Moutinho (CTO) and Paulo Carreira (CSO).

Who’s building the grocery store of the future?



from Startups – TechCrunch https://ift.tt/2S8XDQi
Labels:

Comments

Post a Comment

Popular posts from this blog

Axeleo Capital raises $51 million fund

Axeleo Capital has raised a $51 million fund (€45 million). Axeleo first started with an accelerator focused on enterprise startups. The firm is now all grown up with an acceleration program and a full-fledged VC fund. The accelerator is now called Axeleo Scale , while the fund is called Axeleo Capital . And it’s important to mention both parts of the business as they work hand in hand. Axeleo picks up around 10 startups per year and help them reach the Series A stage. If they’re doing well over the 12 to 18 months of the program, Axeleo funds those startups using its VC fund. Limited partners behind the company’s first fund include Bpifrance through the French Tech Accélération program, the Auvergne-Rhône-Alpes region, Vinci Energies, Crédit Agricole, BNP Paribas, Caisse d’Épargne Rhône-Alpes as well as various business angels and family offices. The firm is also partnering with Hi Inov, the holding company of the Dentressangle family. Axeleo will take care of the early stage in...
Post a Comment
Read more

TikTok’s rivals in India struggle to cash in on its ban

For years, India has served as the largest open battleground for Silicon Valley and Chinese firms searching for their next billion users. With more than 400 million WhatsApp users , India is already the largest market for the Facebook-owned service. The social juggernaut’s big blue app also reaches more than 300 million users in the country. Google is estimated to reach just as many users in India, with YouTube closely rivaling WhatsApp for the most popular smartphone app in the country. Several major giants from China, like Alibaba and Tencent (which a decade ago shut doors for most foreign firms), also count India as their largest overseas market. At its peak, Alibaba’s UC Web gave Google’s Chrome a run for its money. And then there is TikTok, which also identified India as its biggest market outside of China . Though the aggressive arrival of foreign firms in India helped accelerate the growth of the local ecosystem, their capital and expertise also created a level of competit...
Post a Comment
Read more