The six biggest retail technology news stories of the week
It’s Friday, the weekend is almost upon us, so let’s kick back and reflect on another eventful week for the retail systems space. Here's your briefing on the most important stories from the past five days, including Tesco, Carrefour UAE, MoEngage, and the 2022 RTIH Innovation Awards.
1. Tesco and WWF announce Innovation Connections accelerator programme winners
Tesco and WWF have announced the five startups that have won funding and the chance to test and scale their solutions in the former’s supply chain, with the aim of cutting the environmental impact of the average shopping basket and supporting a resilient and sustainable UK food system.
Innovation Connections is a new accelerator programme created by the aforementioned pair.
In the final on 6th May, a group of finalists pitched head to head in front of a panel of experts from Tesco and WWF, with five projects each awarded funding of up to £150,000.
2. Carrefour UAE to replace plastic bags at checkout counters with starch alternatives
Carrefour UAE, which is owned and operated by Majid Al Futtaim, is to offer a sustainable alternative to plastic bags in response to new government policy banning the use of single-use plastic.
The retailer will provide plant-based bags made of starch at its checkout counters.
These will be available for 25 fils at Carrefour stores across Abu Dhabi and Al Ain from 1st June and in Dubai as of 1st July. They take less than six months to fully decompose.
3. 2022 RTIH retail technology awards: categories announced
After launching in 2019 and delivering hugely successful follow up events in 2020 and 2021, the RTIH Innovation Awards return in 2022 with new categories including Most innovative independent retailer and Omnichannel retail initiative of the year.
The fourth edition of the awards will open for entries in early June, with PMC returning as Headline Sponsor.
The event celebrates global tech innovation in a fast moving omnichannel world.
We received a record number of submissions in 2021, and winners included Metapack, Asda, Carrefour UAE, Situ Live, Starbucks, Oracle, Go Instore and Halla.
Winners and highly commended companies were announced on Wednesday, 8th December at an exclusive roundtable discussion/networking event in central London.
4. Customer engagement platform MoEngage raises $77m Series E funding
Customer engagement platform, MoEngage, has raised $77 million in a Series E funding round led by Goldman Sachs Asset Management and B Capital.
There was also participation from the company’s existing investors, Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures, and Matrix Partners India.
This is the third fundraising undertaken by MoEngage in the last 12 months, having raised $32.5 million in July and $30 million in December 2021, taking its total investment to $178 million within eight years.
5. First Atelier100 space officially opens at Livat Hammersmith London
Backed by Swedish retail giants Ingka Group and H&M, the first Atelier100 space has opened its doors to showcase London-based designers and creatives.
The store is located at Livat Hammersmith.
It is pitched as a new sustainable and hyper-local approach to retail.
Atelier100 has been designed not only as a space in which to sell products but also to host workshops, talks and events. .
The project launched with an open call for creatives, makers and manufacturers living within 100km of central London to share their innovative product ideas.
6. Chipotle taps in to cryptocurrency payments space via Flexa
Mexican fast food chain Chipotle is now accepting cryptocurrency payments through Flexa at its 2,950+ USA-based restaurants.
Chipotle will offer all the 98 cryptocurrencies Flexa currently supports, including Bitcoin, Ethereum and seven US dollar pegged stablecoins.
