The RTIH Innovation Awards are back! Check out our biggest retail technology articles on LinkedIn this week
We’re big fans of LinkedIn and are busy building an amazing community of retail tech enthusiasts on the social media platform. As we close on 15,000 followers, these are the articles that are currently on their radars, including Polytag, Packfleet, Retail Technology Show 2024, Locally, Scotmid Co-op, Retail Insights, Dexory, Autonomo, and Global Fashion Agenda.
Recycling technology firm Polytag builds on Ocado Retail, Aldi, Co-op tie-ups with Series A funding round
Polytag has secured Series A seed funding for its mission to transform the recycling industry across the UK and Europe.
The undisclosed investment builds on partnerships with major UK retailers, including Ocado Retail, Aldi, and Co-op.
Polytag's technology offers real-time visibility and insights into single-use packaging throughout its lifecycle. Using its QR codes and Invisible UV Tags, the solutions enable FMCG brands to track and incentivise plastic packaging recycling.
The funding is led by Collateral Good, a climate first venture capital firm based in Switzerland, and co-led by Knop Ventures, an early-stage venture capital fund that invests in startups that are building a better world.
The combined investment will fund the wider installation of Polytag’s Invisible UV Tag readers in material recovery facilities across the continent, offering a larger range of brands real-time insights on where, when, and how much of its packaging is being recycled.
2024 RTIH Innovation Awards opens for submissions, with winners to be announced in November
The sixth edition of the RTIH Innovation Awards is now open for entries.
The awards celebrate global tech innovation in a fast moving omnichannel world, with winners being announced during a glittering ceremony at RIBA’s 66 Portland Place HQ in Central London on Thursday, 21st November.
This year, we’re bringing you two new categories: AI Innovation and Sustainable Retail Innovation.
AI Innovation
After a barrage of hype, the retail space is now seeing many examples of artificial intelligence creating value and efficiency.
This award will highlight AI projects across the omnichannel retail landscape that have gone beyond the proof-of-concept stage, scaling and delivering results.
Sustainable Retail Innovation
Traditionally, the biggest problem with sustainable technology solutions has been in the relatively high cost of implementation, often meaning that scaling them was not viable.
Things change, however, with incentives, targets and climate pledges as well as the rapid iteration of innovative technologies driving down costs in various areas.
This award will go to a retailer or brand that has worked with technology suppliers to put sustainability at the core of its values. The winning entry will show how a company has boosted its green credentials whilst also demonstrating the tangible business benefits of sustainable practices.
Green delivery startup Packfleet bags $10 million in Series A funding, co-led by General Catalyst and Voyager Ventures
Carbon-neutral courier Packfleet has raised $10 million in Series A funding.
This was co-led by General Catalyst, an early investor and Voyager Ventures, an early-stage climate fund.
All of Packfleet’s existing investors participated in the funding round, a roster that includes Creandum, Entree Capital and Founder Collective.
The cash will bolster its presence in the London delivery market and also support the development of the firm’s proprietary routing software, Pathfinder.
Since launch in 2021, the B Corp certified courier has grown to more than 35 HQ employees, and now its 100+ drivers deliver for hundreds of businesses, including Who Gives A Crap, Pizza Pilgrims and HURR.
Celebrating International Women’s Day 2024: ten female retail technology leaders and innovators
Elizabeth Azide, Director Marketing, EMEA at BigCommerce, says: “Women play a crucial role in shaping the landscape of the retail tech industry. Their perspectives contribute significantly to the growth and innovation within e-commerce and retail.”
“As a woman actively involved in this field, I’ve always felt encouraged to voice my opinions and ideas, and would urge others in leadership roles to actively foster an environment where women are supported to meaningfully contribute.”
“With women driving nearly 70% of consumer spending, their presence in decision-making positions is not just advantageous but imperative.”
“By empowering women in the retail tech sector, and as more companies across the industry have women at the helm, we can continue to create more inclusive and successful outcomes for businesses and consumers alike.”
Retail Technology Show 2024 names Charles Tyrwhitt Founder and Chairman Nick Wheeler as headline keynote
Retail Technology Show reports that Nick Wheeler, Founder, Chairman and Owner of Charles Tyrwhitt, will be one of its 2024 headline speakers as part of its conference programme.
The event takes place at London Olympia on 24th and 25th April.
Wheeler will deliver a keynote session on the Headline Stage on day two, which will explore how to lead a workforce from one person to a thousand.
He will draw from his experience establishing his shirt and menswear brand, Charles Tyrwhitt, which he started in 1990 as a fledgling mail order business ranging just eight shirts and ties, and scaled into an international multi-channel retailer and leading British menswear brand with £330 million of sales forecast in 2024.
Locally lands Series A funding for technology development, platform service offerings and marketing
Locally, a US-based technology provider bridging online and offline retail, has announced a growth equity investment led by Corbel Capital Partners, and Valency Capital.
Whilst the company declined to report the exact amount, it did describe the investment as significant.
It will use the cash to fuel technology development and platform services and enhance sales and marketing initiatives.
Specifically, Locally will grow its team, expand into adjacent industries, and raise its visibility with consumers, brands and retailers, including participation at Shoptalk, which takes place from 17th-20th Marchin Las Vegas.
“This investment accelerates our lead in the market, supporting our drive to redefine how brands and retailers collaborate to grow sales,” says Mike Massey, founder and CEO at Locally.
“Our proprietary solution, with millions of data points, transforms how brands interact with their customers, making interactions impactful and personal.”
Global Fashion Agenda and PDS Ventures seek early-stage green innovators for new Trailblazer Programme
The initiative seeks to identify fashion’s most promising early-stage innovators and support them on their journey to scale.
As part of this, PDS Ventures will award one participant an investment of up to $200,000.
The winner will also receive commercial and operational support from PDS Group’s Positive Materials - a textile company and strategic research partner supporting the development and acceleration of low impact textile innovation through collaboration between early-stage startups, supply chain partners and brands.
Further scaling opportunities will be gained through access to PDS Limited’s global supply chain.
Scotmid Co-op leverages Retail Insight AI solution to drive down food waste in stores
Scotmid Co-op, Scotland's largest independent cooperative, has extended its partnership with Retail Insight, a provider of store operations execution software, to reduce food waste and enhance operational efficiencies in-store.
Launched 165 years ago, Scotmid Co-op now operates around 300 retail outlets across Scotland, Northern Ireland and the north of England across its businesses, including Scotmid Food, Semichem and its Funeral Directors and Post Office branches.
Founded with corporate social responsibility (CSR) at the core of its values, Scotmid Food is focused on reducing its carbon footprint and the amount of waste that goes to landfill, identifying this as a ‘key priority’ in its 2023 Annual Report.
Working towards its target of achieving zero waste going to landfill, in 2021 it partnered with Retail Insight, leveraging its cloud-based software solution WasteInsight to increase its volume of sell-through while reducing its waste footprint.
Big Sur AI raises $6.9 million and announces launch of AI Sales Agent for e-commerce merchants
Big Sur AI, an AI platform for e-commerce, has announced a $6.9 million seed round led by Lightspeed Venture Partners and including participation from Capital F and several angel investors.
This comes as part of the launch of the company’s flagship product, an AI Sales Agent, which promises an enhanced product discovery and assisted experience to online shoppers at merchant websites.
“Big Sur AI's dedication to helping merchants cut through the noise and build lasting relationships with their customers aligns perfectly with our vision at Lightspeed,” says Sydney Sykes, Partner at Lightspeed Venture Partners.
“We believe retailers will need a personalised approach to customer engagement that persists outside of the retail store. Big Sur AI is making that kind of customer relationship automatic.”
Dexory partners with DB Schenker to deploy its robotics and AI technology solution into US market
Dexory has announced the first deployment of its robotics and artificial intelligence solution in the United States.
Its technology is now in use at one of DB Schenker’s sites in Utah. This follows Dexory’s expansion announcement into the North American market in early February.
The Retail Trust taps AI to improve staff mental health and prove value of wellbeing strategies
Retail industry charity, the Retail Trust, has developed a generative AI powered dashboard to help retailers including FatFace and Next improve staff mental health and prove the value of their wellbeing strategies.
The new ‘happiness dashboard’, built in partnership with a handful of retail employers and the Retail Trust’s technology partner BJSS, allows companies to track staff wellbeing trends and improve the effectiveness of support.
The platform works by identifying trends around which Retail Trust wellbeing services employees are using to generate recommendations on how to improve engagement, reduce levels of absenteeism or presenteeism, and increase staff retention.
It also shows each employer exactly how much initiatives to improve mental health are saving their business and the economy, by calculating the financial value of fewer staff calling in sick, working while unwell, quitting their jobs or turning to the NHS as a result.
Bear Robotics lands $60 million in Series C funding from LG Electronics as startup targets emerging markets
Bear Robotics, a specialist in service robotics and artificial intelligence solutions, has announced the completion of a $60 million Series C funding round, exclusively led by LG Electronics.
This will take the company into new territories, targeting emerging markets such as smart warehousing and supply chain automation, where it is poised to unveil its next-generation robotics platform.
This features autonomous navigation systems and adaptive learning algorithms, designed to meet the complex demands of modern supply chains and manufacturing processes.
Autonomo secures £2 million funding round and preps expansion into the UK and across Europe
Checkout-free software startup Autonomo has closed a £2 million seed funding round.
This was led by London-based Potter Ventures, the team behind the inamo restaurant group, and Liverpool-based UK investors River Capital through its EIS growth fund, fund:AI.
It brings Germany born Autonomo’s total funds raised to ca. £3.8 million, with previous investment coming from a number of parties, including members of The Edeka Group, Germany’s largest supermarket corporation and angel investment from current and former directors at Aldi, Delivery Hero, Metro, Carrefour, Apple and Brookstreet Equity Partners of Mayfair.
The cash will be used to bring Autonomo’s computer vision powered checkout solutions to the UK, after going live in Germany in petrol stations, convenience and grab-and-go stores.
Urban Value Corner Store picks JUXTA autonomous retail technology for luxury urban apartment store format
Urban Value Corner Store (UVCS) has selected JUXTA for its autonomous micro market strategy within luxury apartment communities.
The pair are partnering to join JUXTA’s newest initiative, project name ‘Nest’ – an autonomous micro market kit for indoor environments – with Urban Value's brand presence in upscale living environments.
Steve McKinley, Founder and CEO at Urban Value Corner Store, says: “Our partnership with JUXTA enables us to enhance the urban living experience by bringing unparalleled convenience and state-of-the-art, unstaffed retail solutions quite literally to residents’ doorsteps.”
“But we’re not only elevating convenience by integrating JUXTA’s cutting-edge technology, we are also providing multi-unit property developers with a unique amenity that sets their properties apart in a very competitive market.”
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