Ten retail technology startups to watch in 2021
RTIH predicts big things for these retail tech ventures over the next 12 months and beyond.
1. Bitreel
Bitreel was recently named Startup of the Year at the 2020 RTIH Innovation Awards.
The award celebrates a new entrant with an innovative technology offering and one that is best placed to succeed in the long-term (taking into account funding, the retailers it is working with etc).
Bitreel impressed our judging panel by building augmented reality showrooms for retailers to share their in-store experiences online via a mobile browser.
Tiffany Lung, Retail Analyst, praised the “ultra-realistic offering with the use of ambisonics and haptics. Unlike the typical use of augmented reality or virtual reality stores, Bitreel technology is sophisticated and mature.”
She added: “Visuals and rendering are very well done and are also mobile friendly which can be very disruptive in the game.”
“New consumer behaviours are adapting to virtual environments thanks to our new daily Zooms, but are now also expecting a blend of hyper-realistic hybrid experiences such as what Bitreel provides.”
2. London Dynamics
Staying with the augmented reality space, London Dynamics recently signed a partnership with Capita Scaling Partner (CSP) to sell its software to the luxury goods market.
Check out our interview with founder Michael Valdsgaard, former Senior VP Digital Transformation at Ikea, here.
3. Clekt
Last year, data insights startup Clekt announced a string of hires as it geared up for a May launch.
Andy Tudor took on the role of CEO, Claudia Hesleden became COO, Ian Cray CTO (and Founder) and Alan Morris Chairman.
“Our new normal starts here and we are looking forward to helping businesses increase the value of their data by using it to determine a better future,” the company said in a LinkedIn post.
Clekt rounded off the year by making the shortlist for Startup of the Year at the 2020 RTIH Innovation Awards.
We’re keen to see where they go next.
4. Hullabalook
Hullabalook also made the Startup of the Year shortlist.
The London-based venture helps e-commerce retailers make products more discoverable.
Last year, luxury fashion venture Lebs.com deployed its Outfit Builder solution.
Last week, meanwhile, Hullabalook and COAT Paints announced a partnership that aims to simplify the paint buying journey.
5. Uncrowd
De'Longhi and Kenwood recently announced a customer intelligence partnership with Uncrowd.
This will see them tapping the UK startup’s Friction/Reward Indexing analytics platform.
Like Clekt and Hullabalook, Uncrowd also made the Startup of the Year shortlist at the 2020 RTIH Innovation Awards.
“Any platform that can take away subjectivity and enable retailers to make informed decisions across different aspects of their business has to have huge potential,” Martin Newman, Founder, The Customer First Group and a member of the RTIH Innovation Awards judging panel, commented.
6. Situ Live
Situ Live, a new experiential retail concept, will launch at Westfield London during the spring.
This will feature live theatrics and storytelling performances across six curated arenas: ‘Fitness & Wellbeing’, ‘Connected Home’, ‘Nutrition Kitchen’, ‘Entertainment’, ‘Home & Mobile Working’ and ‘On The Move’.
The aim is to allow consumers to connect with brands, with an emphasis on personalisation, picking products suited to their lifestyle, complemented by advice from Situ Live’s team.
7. Purple Dot
Last year, RTIH got the lowdown on London-based fashion tech company Purple Dot..
“We believe we have the potential to be bigger than Klarna, and one of our goals is to make that happen without getting shoppers into debt,” co-founder John Talbott told us.
Like Uncrowd, Purple Dot produced a Startup of the Year submission that also impressed the 2020 RTIH Innovation Awards judging panel.
“They’re addressing a problem so many retailers have and no one has really cracked it,” said Sharon Peters, Head Of Technology - Marks and Spencer, HR, Finance, Corporate Services and M&S Bank.
“If they can then this would be phenomenal. What’s great is its real-time adaption to product stock levels and almost continuous customer feedback to get value back but also give products that a customer really wants – so fail fast but learn mostly. I would be intrigued to see how this goes,” she concluded.
8. Weezy
Weezy recently raised $20 million in Series A funding to expand its grocery delivery service across London and the UK.
The company delivers fresh produce and household items, using pedal cycles or electric mopeds, in less than 15 minutes on average.
It is opening two fulfilment centres in Lambeth and London Fields this month, adding to its existing locations covering Battersea, Clapham, Fulham and Chelsea. Weezy plans to open 40 more UK sites by the end of 2021.
9. Caper
Kroger is testing out Caper's artificial intelligence powered shopping cart at a Cincinnati store in the US.
Shoppers can use a KroGO branded smart cart to scan items and pay for them, eliminating the need to stand in line and checkout.
10. Nacelle
Nacelle, a US-based headless commerce platform for online retailers, recently raised $18 million in Series A funding.
It will use the cash to build and add new functionality to its product and expand its team. Nacelle previously raised $4.8 million in seed series funding.
