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AiFi

Automated Stores
Segments:
Automated Checkout
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Product stage:
Early
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AiFi offers a self 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 simply 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

In January 2022, AiFi launched its largest store—a 6,000 square foot Aldi location in London. As of March 2022, the company has 40 stores in operation globally. AiFi’s key partnerships include Carrefour (November 2018) in the UAE, Zabka (February 2019) in Poland, AiGo (December 2020) in China, Loop Neighborhood (January 2020), Choice Market (April 2021), and Verizon (May 2021) in the US, Wundermart (February 2021) in the Netherlands, Belgium, and Germany, PostNL (May 2021) in the Netherlands, Morrisons (July 2021) and Aldi (January 2022) in the UK, Compass Group (December 2021) in Ireland, and Kende Gastro (January 2022) in Hungary. 

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. In August 2023 , AiFi partnered with University of San Diego to retrofit a mini convenience store with checkout-free technology.

Funding and financials

By 2022, AiFi reportedly had revenue growth of 5-6 times year-over-year and had increased its headcount from 40 employees in 2020 to 115 employees. In March 2022, AiFi raised USD 65 million in a Series B funding round led by Canada-based investment management firm Khaira Capital, with participation from retail partners ALDI South Group, Zabka Group, REWE, Verizon Ventures, and Qualcomm Ventures. The round brought the company to a total of USD 97 million in funding. AiFi had planned to leverage the new funding to scale partnerships, strengthen its deployment team for faster store roll-outs and also invest in product development and feature enhancement.

Automated Stores

Automated Stores

Key stats
Featured companies
52
Total funding (USD)
3.3 Bn
Total addressable market (USD)
4.9 Bn
Key competitors
 
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Company profile
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EDGE Insights

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Recent Updates

Partnerships
Aug 22, 2023
AiFi partners with University of San Diego to retrofit store with checkout-free technology
Automated Stores
Partnerships
Feb 9, 2023
AiFi partners with Sodexo to launch new grab-and-go store concept
Automated Stores
Partnerships
Jan 10, 2023
AiFi partners with Microsoft to launch a cloud-based analytics service for cashier-less stores
Automated Stores
Product updates
Apr 13, 2022
Amazon rolls out Just Walk Out tech at Houston Astros’ Major League Baseball Stadium
Automated Stores
Partnerships
Mar 28, 2022
AiFi partners with campus food service operator Sodexo to launch autonomous grocery stores
Automated Stores
Funding
Mar 11, 2022
AiFi raises USD 65 million in Series B to fast-track partnerships and store launches
Automated Stores

Company Brief


HQ location:
2388 Walsh Ave Santa Clara CA USA
Founded year:
2016
Employees:
101-250
Total Funding:
USD 80.4 million
Last Funding
USD 65.0 million, Mar 2022

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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