AiFi

AiFi offers a grab-and-go checkout solution powered by computer vision and AI. Its solution enables a customer to enter a store using a mobile app, pick up the items required, and exit the store to complete the purchase. The solution also generates statistics and insights on customer behavior. The company claims that its technology can track up to 500 customers while also tracking tens of thousands of items in a store. It also claims a 99% accuracy rate and can be used within a space of up to 10,000 square feet, without using facial recognition technology or storing biometric data.

AiFi’s flagship platform, “Orchestrated Autonomous Store Infrastructure & Services (OASIS)” is designed for stores ranging from 200 square feet to 10,000 square feet and allows users to select between a fully autonomous shopping experience or a hybrid model. The stores will have a turnstile, a kiosk or door locks at the entrance, which the customer can interact with to gain access to the store. It also can be integrated with existing payments, inventory management, and electronic shelf labeling systems. The stores operate on a subscription-based model, and the company guarantees 12 months to achieve a return on investment (ROI).

AiFi leverages the OASIS platform to offer retail clients the option of deploying an AiFi NanoStore, a custom-designed, fully-automated, container-sized, unmanned, checkout-free store format that can be operated 24/7. The NanoStores come in sizes of 160, 300 and 370 square feet specifications. Company claims that its technology can save around USD 20 per hour of operation.

Key customers and partnerships

As of February 2023, AiFi’s technology was deployed at over 100 stores globally. In January 2022, AiFi launched its largest store, a 6,000 sq ft Aldi location in London. AiFi’s key partnerships include Carrefour (November 2018) in the UAE, Zabka (February 2019), Wundermart (February 2021), PostNL (May 2021), Morrisons (July 2021), Aldi (January 2022), Compass Group (December 2021), Kende Gastro (January 2022) in Europe, Loop Neighborhood (January 2020), Choice Market (April 2021), Verizon (May 2021) , Acrisure Arena ( May 2024 ), and Chicago White Sox (September 2024) in the US, and AiGo (December 2020) in China.

AiFi also has a partnership with Microsoft (January 2023) to launch a cloud-based analytics service for cashier-less stores. In March 2022 AiFi partnered with Sodexo, the French campus food service operator, to bring autonomous grocery stores to campuses across the US.

Funding and financials

By 2022, AiFi reportedly had revenue growth of 5–6x YoY. In March 2022, AiFi raised USD 65 million in a Series B funding round led by Canada-based investment management firm Khaira CapitalAiFi. It planned to leverage the new funding to scale partnerships, strengthen its deployment team for faster store rollouts, and invest in product development and feature enhancement.