10 more promising retail tech ventures
RTIH has this year been bringing you a series of '10 retail tech startups to watch' listicles (all of which were recently rounded up here). These have proved to be hugely popular and, as the distruptive ventures just keep on coming, we couldn't resist another top 10. So, dear readers, be sure to check out these cool startups...
Fashion tech startup, Lookiero, has closed a funding round of Euro 4 million led by All Iron Ventures. And it has just launched its services in the UK, its third market after Spain and France.
Israeli startup Syte was recently shortlisted by the 2018 Tech. Awards in the Tech Supplier of the Year and Tech Collaboration of the Year categories, for its partnership with boohoo. Check out our recent interview with Lihi Pinto Fryman, Co-founder and CMO, Syte, here.
RedBrain now lists over 250 million products across Germany, France, Italy, Spain and its native UK.
Using a network of shopping comparison websites, the venture's aim is to be a ‘matchmaker’ between the consumer and the retailer, tapping AI tech to provide high-quality leads to major players such as House of Fraser, Currys, Nike and Walmart.
US-based autonomous checkout system venture, Standard Cognition, is set to launch its first public store in the Bay Area this summer, with multiple retailer pilots rolling out in the US, Canada, Asia and Europe by the end of 2018.
The venture claims to offer the only Artificial Intelligence-based system available to any retailer that lets consumers shop and pay without waiting in line, scanning or stopping to check-out. It says that its solution helps retailers reduce labour costs, improve the customer experience and improve profit margins by up to 100%.
Check out a video of the system in action here.
Romanian startup, Tokinomo, was recently announced as Retail Business Technology Expo’s (RBTE) 2018 Innovation Award winner.
60 applications for the prize were whittled down to 16 and these featured on the Winners Wall at the show, which took place in May. Check out the shortlist here.
Tokinomo has come up with a motion sensor in-store advertising solution. Matt Bradley, Show Director at RBTE, commented: “The company stood out to the judges for its innovative take on reaching new levels of in-store customer interaction, to drive engagement – and conversions – at the shelf edge."
Servicelovers is a Danish company that helps retail workers get digital recommendations from customers. Think LinkedIn for service industy employees. Check out our interview with Christian Brauner, Founder and CEO, Servicelovers, here.
Fit + Flatter
Fit + Flatter has developed a platform that helps consumers find their ideal fit. Driven by its belief that all shapes, sizes, and ages should be represented in the fashion industry, the venture brings together a curated selection of clothing categorised and modelled by women of various shapes and sizes with a similar shape. It partners with fashion brands and boutiques to photograph, style and feature clothing on its reviewers – a group of women who are not professional models, but are relatable, everyday women.
Driverless grocery store startup Robomart is planning to launch a pilot programme in Santa Clara, California later this year. Further details here.
German ‘bed-in-a-box’ retailer Emma Mattress was recently named Europe’s fastest growing startup at the Tech5 Awards, hosted by TNW and Adyen in Amsterdam. Further details here.
Decentralised fresh food marketplace eHarvestHub enables independent farmers to sell directly to grocers around the globe, removing middlemen that, the venture claims, “drive up the price of produce whilst siphoning the majority of the profits from the industry. Our goal is to bring affordability and accessibility to all. It banishes the need for trust in such parties with the use of a public ledger, so that drivers transporting the produce, farmers harvesting it and grocers purchasing it can connect directly and greatly streamline the process.”
If you think we’ve missed any promising startups, let us know. Drop the Editor a line at: firstname.lastname@example.org