Startup interview: Vasco Portugal, CEO and Co-founder, Sensei

RTIH gets the lowdown on Lisbon-based computer vision startup Sensei, which is on a mission to “re-humanise stores and remove the machines separating employees from customers”.

RTIH: Tell us about Sensei

VP: Sensei is a deep tech company and the leading European provider of autonomous stores. 

Our mission is to enable a seamless and transformational shopping experience by providing technology that empowers retailers to setup a scan free queue free store.

It also brings boosted efficiency of their business operations and second-to-none in store insights, helping them level the playing field towards digital retail giants such as Amazon that are bringing digital capabilities to the physical store.

Autonomous stores allow customers to simply enter the shop, grab the products they want and leave without waiting in line to pay. 

We remove friction from stores, turning them autonomous and checkout-free. No scanning, no physical payments, no lines. Leaving is as easy as entering the location.

RTIH: What was the inspiration behind setting the company up?

VP: We are a group of highly driven entrepreneurs experienced in both retail and technology fields.

Back in 2017, we asked ourselves how the retail industry has not evolved or eradicated all the trouble associated with the shopping experience. 

For example, our research showed that we spend, on average, two years of our lives waiting in lines. In a world with almost eight billion people, it's easy to understand its impact on people's lives. 

We then embraced the challenge and set the purpose of Sensei - to change the future of retail by improving both retailers and consumers' experience in-store. 

RTIH: What has been the industry reaction thus far?

VP: It's been marvelous. We've just announced a $6.5 million seed round that allows us to answer clients' demands and expand our business through Europe while opening autonomous stores in the second quarter of 2021. 

We've built a seamless and easy to deploy tech frontend, leveraging acomplex technology backend that has proven to suit retailers' needs on providing their customers with a frictionless experience by considering real-time insights provided by our platform. 

Plus, we're ready to give answers to all kinds of businesses, as we work with new or existing stores. Our system relies on quick deployment and scalability. 

We can secure the retrofitting of chains or the opening of new stores, and above all, we can equip all stores to be more aware of shoppers' behaviours. 

RTIH: What has been your biggest challenge/setback?

VP: The greatest challenge is to create something that’s never been done before. 

We’re talking about shopping as we all shop, while removing the burden of waiting in lines or scanning products. Our intention is to improve shoppers’ experience, not change it dramatically. 

Sounds simple, right?  No one can tell what’s behind it at sight, but from the technical point of view, we’re actually revolutionising the way retailers run their businesses, providing them tools built on AI and computer vision that are no more than resources of qualified management to them, despite the tremendous robustness that implies to create such a system. 

To ‘simplify’ complex tech subjects like these and to merge them into our daily lives is the foundation of a new era, and we’re writing that book, building it from scratch, learning and evolving while democratising and giving people the knowledge to permanently improve their activities. 

RTIH: What are the biggest challenges facing the omnichannel retail sector right now?

VP: The biggest challenge retailers face is to bring the benefits of digital efficiency into the store, augmenting the physical experience with digital seamlessly, boosting their ability to reinvent their business to meet new phygital expectations. 

Also, surprisingly, bricks and mortar stores are a black box, where decisions are mainly supported in transactional data, with almost no visibility to what is happening in real-time in the stores. All insights from consumers' behaviour are not driven to action. 

That’s why stock-outs and long lines are a reality. On the other hand, consumers have found online channels to be effective, cost, and time-saving. Yet physical stores also have components that can't really be replicated online. 

Otherwise, why would digital giants like Amazon consider expanding into offline channels? Shoppers care about the experience specially when buying food, the smell, appearance, the senseI still have a big role in the purchase decision. 

RTIH: What’s the best question about your company or the market asked of you recently by an investor and/or a customer? 

VP: If we feel the pressure of offering a technology that competes directly with one of the Big Tech like Amazon. And what we think about them deploying Amazon Fresh stores in Europe. 

First and quite honestly, we think it's fantastic because it is an excellent indicator of where the physical retail industry is headed.

Second, for a bricks and mortar retailer, Amazon is likely their biggest competitor, and using their technology means handing over precious data. 

Amazon is essentially a direct competitor of our clients (not us), as we've essentially built a system that allows any retailer store, new or existing, to become autonomous and have no intention of becoming retailers. 

We position ourselves as a provider that licenses its technology to help level the playing field for retailers to face digital giants such as Amazon, so they can also provide a store experience that is seamless, pleasant, and more efficient. 

We are also often asked about automation leading to job losses.

However, our experience with retailers shows that autonomous stores aren't necessarily reducing staff, but instead redeploying staff allocated to cashiers to more valuable activities and provide an opening for a differentiating and more human experience with shoppers. 

So, our mission is really about re-humanising stores and removing the machines separating employees from customers: conveyor belts, cash registers, scanners, and, ultimately, mobile phones. 

RTIH: What can we expect to see from Sensei over the next 12 months?

VP: You can expect to hear a lot more about Sensei, as we’re working hard to open stores in various frontlines. Autonomous retail will become a reality rather than an exception, and we want to be leading this change. 

The thrill of having an extraordinary team of talented engineers and being backed by some of the best investors gives us the confidence to foresee an outstanding year for Sensei.

StartupsStaff WriterAutonomous stores, Startups, Sensei, Vasco Portugal, Stores, Bricks and mortar retail, Omnichannel retail, Autonomous retail, Deep tech, Computer visionComment