Computer Vision Startup for Retail Space Raises $17.6M Series A
Euro-based Hot startup, Advertima empowers grocers and other retailers to create smart spaces using Computer Vision Technology.
Computer vision is transforming businesses in many ways. The fuel driving this massive transformation is, of course, ripe data that customers leave on the table / smartphones every time they checkout with a product or service. Retail, by the sheer volume of customer footfalls and interactions, is a great market for computer vision products and solutions. A Swiss-based emerging computer vision platform provider is taking the futuristic concepts to retail spaces. It’s Advertima — a hot AI startup that has announced $17.6 million Series A funding from the Fortimo Group.
Advertima’s smart retail portfolio is supported by Migros and SPAR.
With the new financing, Advertima intends to deliver highly contextual frictionless and relevant in-store shopping experiences using Computer Vision applications.
Advertima’s ‘Human Data Layer’ brings together three Deep Learning techniques: AI, Machine Learning and Computer Vision.
The Human Data Layer works in sync with Computer Vision capabilities, capturing and analyzing real-time human behavior and gestures in a retail space. The future of retail is creating smart spaces for digitally interacting with shoppers. The retail grocery segment is where Advertima is focusing its energy.
What is a Smart Retail Space?
A smart retail space is a real estate that grocers can digitally convert into tech-enabled spaces to maximize their store efficiency, optimize salesperson interactions, and generate higher revenues with greater ROI per square meter.
THe COVID-19 pandemic has not only squeezed retail of its shine and scale, but also put a blanket doubt on its future. However, with AI and Computer Vision-enabled tools and solutions, the retail grocery segment might become a favorable destination for tech providers.
Advertima offers smart inventory management and autonomous checkout. It is providing relevant content on smart digital screens throughout the in-store shopping journey.
In the near future, smart spaces will be ubiquitous and a part of the fabric of everyday life. Advertima plays a crucial role in the emerging smart retail ecosystem, powered by their Human Data Layer. Consumers are at the core of the evolution of smart spaces and will expect a living and working environment where interaction with technology is seamless and unnoticeable.
In the next two years, we can expect a majority of the retail grocery segment moving to self-service automation and screen-based shopping destinations. COVID-19 pandemic may have accelerated the need to utilize AI and Computer Vision techniques to create smart retail spaces. Advertima’s Series A funding is a welcome development that could forever erase the physical and digital layers in retail shopping experiences.
Source: Advertima Blog
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