Retail technology startup AssetFloow secures €1.5 million investment from GED Ventures

AssetFloow has closed a €1.5 million investment round.

The startup has developed artificial intelligence technology capable of describing consumer behaviour inside a store without the need for cameras or sensors.

With the aforementioned investment from GED Ventures, it aims to triple its R&D team in Portugal, accelerate expansion in Europe and South America, and consolidate its position in the behavioural analytics market.

This is its first equity round (in 2021, it received a €100K SAFE note). 

AssetFloow, founded in 2021 by Katya Ivanova and Ricardo Santos, combines AI with behavioural analysis, directly from anonymous retailer sales data.

Its platform generates the paths used by consumers in stores and their interactions with products, allowing an understanding of purchase patterns and behaviours.

AssetFloow provides a tool to create a digital twin of a store, providing information such as heatmaps, paths most used by different consumer segments, suggestions of where to place products/categories to increase sales, promotional campaign strategies, sales anomalies, new products to add to the store etc.

The firm currently operates in Europe (Portugal, Spain, UK, Italy) and Brazil.

Ivanova says:: "We are revolutionising the way retailers analyse what's going on inside physical stores.”

“There has never been a solution on the market capable of helping retailers understand consumer behaviour by store or cluster of stores in real-time and at scale, without compromising privacy.”

“One of our clients in Europe, for example, needed to hire a team to manually track consumers in their stores, generating manual heatmaps based on people's paths, which cost tens of thousands of euros per week.”

“With AssetFloow, the same client was able to obtain the same results in seconds. In Brazil, the platform was able to detect behavioural changes three months in advance compared to the retailer's team, which contributed to increasing sales in a scenario of strong inflation impact."