Advertima raises €15m for smart retail spaces vision
Computer vision platform provider, Advertima, has closed a €15 million Series A investment round led by existing shareholder Swiss real estate company, Fortimo Group.
The venture, which was founded in 2016 and is headquartered in Switzerland, says that it will use the cash to “further develop its platform on a global scale and strengthen its position as a critical player in the wider ecosystem of the smart space environments”.
Advertima also raised €7,218,922.50 ($8.5 million) in 2017. Its portfolio has been developed with Swiss retailer Migros and international grocer Spar. The technology is currently being used by 14 companies across eight different countries.
“It is clear that the rapid digitalisation of our society is going to have an impact on consumer habits, especially in the retail sector,” says Fortimo Group Founder Remo Bienz.
“Advertima is at the cutting-edge of technology in the retail space. As a long-standing shareholder, we know how visionary their technology is, but also how it has been successfully adopted by major, global organisations and already generated significant revenues.”
“We’ll be investing €25 million in the further development of our smart retail solutions over the next two years. €10 million of this investment will be financed by our own revenues so this €15 million round is a crucial milestone to help us achieve our vision for how the world will look by 2030,” says Advertima Co-Founder and CEO Iman Nahvi.
“We see a world where the physical and digital layers are merged to enhance our daily professional and private lives. Our human data layer will be one of the irreplaceable components in this whole ecosystem of applications and technologies that will build the foundation of our future lives.”