Looking back: RTIH rounds up the retail technology news you might have missed last week
Failed to keep up with the breaking retail technology news last week? Then have no fear as RTIH has you covered. Here are the major stories that you need to know about. Includes H&M Indonesia, YOOBIC, Videobot, AiFi, and Newegg.
Rainy days: miserable weather set to boost Brits’ online spending by £650 million in 2023
UK consumers will spend £754 million extra online this year because of rain, snow and high winds – with rain the biggest contributor to the overall uplift at £650 million, according to research from the Adobe Digital Economy Index, powered by Adobe Analytics.
To put these numbers in context, weather alone could result in more consumer spending than Cyber Monday, which at £732 million was the biggest online shopping day of 2022.
H&M Indonesia boosts productivity, compliance, employee engagement, sustainability with YOOBIC tech
H&M Indonesia has released results from its partnership with YOOBIC, an employee experience platform for frontline teams in the retail and hospitality spaces.
The retailer says that, adopted across its more than 60 stores and 290 frontline staff in Indonesia, YOOBIC's solution has significantly elevated employee engagement, communication, and productivity, as well as enhancing efficiency, compliance, and sustainability.
Wa’ed Ventures leads $27 million Series A funding round for retail technology startup Rewaa
Rewaa, a Saudi-based leading omnichannel inventory management system, accounting, and PoS platform for the retail industry, has raised $27 million in Series A funding round led by Wa’ed Ventures, a VC fund wholly owned by Aramco.
STC’s Corporate Innovation Fund (CIF) also participated, alongside Silicon Valley’s Graphene Ventures, Sadu Capital, Vision Ventures, Khwarizmi Ventures, RZM Investment, Derayah VC, and Abdulrahman Sulaiman Al Rajhi & Sons Investment Company.
“This investment propels us toward our vision of becoming the optimal tech partner for SMBs in the retail sector. By contributing to the industry's digital transformation, we aim to make an impact on retail merchants, enabling them to increase efficiency,” says Mohammed Alqasir, Co-Founder and CEO at Rewaa.
Artificial intelligence startup Voxel secures $12m investment, taking total funds raised to $30m
Voxel has announced a $12 million funding round led by Rite-Hite with participation from existing investors Eclipse Ventures and World Innovation Lab.
This takes total funds raised to $30 million since 2020.
Voxel integrates computer vision technology into existing security cameras to identify hazards, risky behaviours, and operational inefficiencies across a range of workplaces.
Once potential risks, such as near miss vehicle collisions, blocked exits, improper ergonomics, or spills, are identified, a real-time alert is sent to on-site personnel who can take immediate action, and Voxel's analytics help sites identify operational inefficiencies and design policies to prevent future issues.
In order to protect workers’ privacy, no facial recognition or identification of individuals is permitted in Voxel’s systems.
Sarah Curran launches online venture Just Hotter following departure from True Fit
Sarah Curran has launched Just Hotter, a Shopify powered online destination for all things menopause.
In May, Curran left True Fit, a fit personalisation platform for fashion retailers, where she served as Global Chief Marketing Officer.
In a LinkedIn post, she said: “After almost three years at True Fit Corporation, I took the decision to step down and create a new chapter.”
TMX Transform brings in Kroger and supply chain veteran Jeff Bornino to head up North American business
Australia-based supply chain consultancy, TMX Transform, has launched its North American operations, and named Jeff Bornino as President of that part of the business.
Bornino brings with him over two decades of supply chain experience, most of which was spent at Kroger, where he served as Vice President, Corporate Supply Chain and Inventory & Replenishment.
“TMX Transform combines deep industry experience and advanced supply chain thinking and capabilities with a very practical ‘get it done’ approach,” says Bornino.
“It’s a unique and powerful combination that I always searched for, but never quite found in my twenty plus years in the industry.”
“I was especially drawn to TMX’s focus on creating long-term client relationships and the depth and breadth of talent within the team. I’m honoured to join TMX Transform and am excited about the positive impact we will have on our North American customers.”
Startup Videobot secures €2m funding to boost online customer experiences with interactive video chatbots
Videobot, a Finnish SaaS startup, has raised €2 million in seed funding from Superhero Capital, Expon Capital Digital Tech Fund, and angel investors, Urban Gillstrom and Ari Korhonen.
The cash will be used to accelerate Videobot’s growth, especially in Europe and US markets, where the company has over 200 customers in 15 countries and in multiple industries.
"80% of internet traffic today is video. Videobot represents a paradigm shift in online communication," says Anssi Kiviranta, Co-founder of Videobot, which launched in 2022.
"Our platform seamlessly integrates the convenience of chatbots with the engaging power of short videos, opening new horizons for businesses to connect with their audiences."
Unique spaces: University of San Diego taps AiFi tech for new checkout free convenience store
The University of San Diego has retrofitted a Smart Market mini-convenience store located within its Knauss Center for Business Education with AiFi technology.
This allows shoppers to select food and drink items and walk out without waiting in line or scanning to pay.
Customers scan a dedicated store app upon entry to identify themselves.
American online retailer Newegg implements warehouse robotics system from Geek+
Newegg, an online retailer specialising in technology products, has deployed Geek+’s shelf to person picking system that uses autonomous mobile robots (AMR) in its Ontario, California, warehouse.
The robots operate within a designated area before lifting and carrying mobile shelves to workstations where employees pick and scan products to prepare them for shipping to customers.
The Geek+ system includes 24,360 storage locations for products within hundreds of shelves.
Cart.com signs on to manage operations at JP Outfitters fulfilment facility near Cincinnati, Ohio
JP Outfitters, the parent company of The J. Peterman and The Territory Ahead brands, has selected Cart.com as its US fulfilment partner.
This will see the latter leverage its order and inventory management capabilities and 3PL expertise to manage operations at JP Outfitters’ fulfilment facility near Cincinnati, Ohio.
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