Swedish AI powered retail technology platform Voyado lands new majority investor as Viking jumps onboard

Voyado has secured backing from investment firm Viking, in a deal that puts its valuation at SEK 3.5 billion (approximately £260 million). This makes Viking its new majority shareholder.

Completion of the transaction is subject to customary regulatory approvals. 

“We’ve never tried to be everything to everyone - we build solutions for a sector we know inside out. That focus on retail is exactly what made Viking see the potential in us,” says Johan Bäckarlin, Co-Founder at Voyado.

Having gained traction in the Nordics, over the past 18 months Voyado has inked partnerships with several UK retailers across fashion and lifestyle, including Cutler and Gross, Pour Moi, Ellis Brigham, and Silver Cross. It says that it aims to scale further in the UK by providing retailers with AI driven solutions for loyalty, personalisation, and product discovery, all tailored specifically for the retail sector.

“In challenging times, the value of loyalty and returning customers becomes even more important and that’s where our products come in. We help retailers drive growth in a cost-effective way by turning one-time buyers into loyal customers,” says Erica Sandelin Ekelund, CEO at Voyado.

“At the same time, our story in the UK is quickly gaining pace. We’re seeing strong demand among retailers for technology that delivers real results, from loyalty and personalisation to smarter product discovery. More businesses are recognising the real impact of loyalty. Our job now is to help even more retailers see the same results.” 

Existing shareholders Novax, Verdane, eEquity, and the H&M Group remain onboard, alongside the company’s founders.

RTIH AI in Retail Awards

RTIH, organiser of the industry leading RTIH Innovation Awards, proudly brings you the first edition of the RTIH AI in Retail Awards, which is now open for entries. 

As we witness a digital transformation revolution across all channels, AI tools are reshaping the omnichannel game, from personalising customer experiences to optimising inventory, uncovering insights into consumer behaviour, and enhancing the human element of retailers' businesses.

With 2025 set to be the year when AI and especially gen AI shake off the ‘heavily hyped’ tag and become embedded in retail business processes, our newly launched awards celebrate global technology innovation in a fast moving omnichannel world and the resulting benefits for retailers, shoppers and employees.

Our 2025 winners will be those companies who not only recognise the potential of AI, but also make it usable in everyday work - resulting in more efficiency and innovation in all areas.

Winners will be announced at an evening event at The Barbican in Central London on Wednesday, 3rd September.

This will kick off with a drinks reception in the stunning Conservatory, followed by a three course meal, and awards ceremony in the Garden Room.

Please email our Editor, Scott Thompson, if you have any questions or need further information: scott.thompson@retailtechinnovationhub.com

Key 2025 dates

Friday, 18th July: Award entry deadline 

Tuesday, 22nd July: 2025 finalists revealed

Wednesday, 23rd July - Friday, 8th August: Judging days

Wednesday, 3rd September: Winners announced at the 2025 RTIH AI in Retail Awards Ceremony, to be held at The Barbican in Central London.