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Nordic Eye is a Danish venture capital firm based in Copenhagen, Zurich, London and San Fransisco. We invest in carefully selected and mainly Nordic early-growth companies in tech and lifestyle business areas.  We look for companies that can scale globally and where we can add value while helping to provide great exit opportunities within approximately five years. IF you think we are a match, press the link below.  https://nordiceye.com/contact-us/

Nordic Eye Venture Capital

Seed Capital invests in Danish tech businesses with global ambitions. We are focused on ''late seed''-stage companies, typically investing 2-4 MEUR in rounds of 2-10 MEUR. Proud backers of Trustpilot, Vivino, Lunar, Templafy, Dixa, Forecast, and many other great companies.

Seed Capital

Zliide

Zliide is a self-checkout system aiming to revolutionize the overall physical shopping experience.  Zliide has reinvented the retail checkout process by creating intelligent anti-theft tags that automatically unlock once a payment is made.  The technology gives the customers the ability to be in control of their shopping experience throughout the process, while removing lines and reducing the time staff need to spend at the POS-system. In the physical stores of tomorrow staff will have surplus time to assist costumers on the sales floor and provide optimal service and ensure additional sales. Retailers will be provided with in-store statistics, product interactions, inventory management and costumer behaviour in real time.

<div>Zliide is a Denmark-based developer of an automated checkout solution. Zliide creates near-field communication (NFC)-powered &ldquo;Zliide Cards&rdquo; that can be carried by the store employees. When a customer is ready to proceed with a purchase, an employee can tap their Zliide Card on the customer&rsquo;s mobile device to activate the mobile checkout portal, which avoids needing to be installed on mobile checkout apps. The portal enables the customers to scan the barcodes or RFID tags of items and completes the purchase using payment methods like Apple Pay or Google Pay.</div>

Providing a seamless consumer experience is one hope for bringing back brick and mortar retail, automated stores are being built to do just that.

Automated Stores

<div>
 
 Zliide is a Denmark-based developer of an automated checkout solution. Zliide creates near-field communication (NFC)-powered &ldquo;Zliide Cards&rdquo; that can be carried by the store employees. When a customer is ready to proceed with a purchase, an employee can tap their Zliide Card on the customer&rsquo;s mobile device to activate the mobile checkout portal, which avoids needing to be installed on mobile checkout apps. The portal enables the customers to scan the barcodes or RFID tags of items and completes the purchase using payment methods like Apple Pay or Google Pay.
 
 
 Key customers and partnerships
 
 
 Zliide&rsquo;s customers include retailers such as Bestseller, Moss Copenhagen, Les Deux, and Rezet Sneaker Store. In February 2023, Zliide entered a partnership with Sensormatic Solutions, a global retail solutions portfolio of Johnson Controls, to deliver an enhanced self-checkout solution.&nbsp;
 
 
 Key Competitors: None comparable (Zliide is the only player that provides an near-field communication (NFC)-powered solution for self-checkout).
 
</div>

Zippin offers computer vision-powered grab-and-go checkout solutions for retailers. Zippin uses overhead cameras and shelf sensors along with computer vision algorithms to track items picked up by customers. The customers can use Zippin’s mobile app to enter the store, pick up their purchases, and exit the stores to complete the transaction. Zippin claims the combination of cameras and weight sensors provides a more accurate sensor fusion algorithm compared to a purely camera-based solution.&nbsp;Zippin does not use biometrics to identify consumers and only uses overhead cameras to map out customer movements. Zippin’s solutions are priced based on the square footage of the stores.&nbsp;The company also offers the Zippin Crew app, a mobile app that can be used to scan and locate inventory in-store. It provides retailers with inventory insights, such as planogram data, stock availability data, and out-of-stock alerts. Zippin Retailer Dashboard is a store analytics solution that provides insights on real-time shopping activity, planogram compliance, out-of-stocks, and shopper behavior.&nbsp;In 2022, the company launched Zippin Lane, a checkout-free solution suitable for high-traffic locations like sport arenas, airports, train stations, and busy college campuses. Zippin lanes are designed to fit into long and narrow areas with store sizes starting at 240 sq ft.&nbsp;As of September 2022, the Zippin had deployed over 20 Zippin lanes, including nine locations at NFL venues.&nbsp;Key customers and partnershipsAs of February 2023, Zippin had deployed its technology at 90 store locations including supermarkets and convenience stores such as Lojas Americanas (August 2019) in Brazil and Azbuka Vkusa (May 2020) in Russia. As of September 2023 Zippin had 71 checkout free stores at sports venues and stadiums in the US including Mile High Stadium in Denver, Barclays Center, Houston's NRG Stadium, and Gainbridge Fieldhouse. In 2023, Zippin opened checkout-free stores at multiple NFL stadiums. Zippin also opened a checkout-free store in partnership with the Dallas-based restaurant and entertainment business, Dave &amp; Buster’s (July 2022). In December 2021, the company announced the launch of its first airport store in partnership with JFKIAT, the operator of Terminal 4 at John F. Kennedy International Airport (JFK), and SSP America, an airport foodservice operator. In May 2024, Zippin partnered with the food service company&nbsp;<a href="https://sp-edge.com/updates/29719">Aramark</a> to introduce a frictionless and cashierless store at a theme park in the UK.The Japan-based systems integrator Fujitsu serves as Zippin’s exclusive distributor in Japan (December 2020). Under the partnership, Fujitsu has the authority to deploy Zippin’s technology integrated with Fujitsu’s biometric authentication technology. The two companies initially piloted an automated store at a Lawson convenience store chain in Japan (February 2020). In November 2022, the companies extended the partnership to support UK and Europe deployments.&nbsp;

Zippin

<div>
 
 A vision technology company, AWM (Adroit Worldwide Media) Smart Shelf offers an array of retail solutions. The company&rsquo;s main cashierless checkout solution is called AWM Frictionless, a collaborative solution offered in partnership with Microsoft Azure, and uses several of AWM&rsquo;s product offerings to create an enhanced shopping experience.&nbsp;
 
 
 As shoppers arrive, they launch their mobile app to check in, where the AWM Frictionless platform notes their presence. As shoppers move, cameras track them, and their identity is further validated by facial-matching software. Product selection is then tracked through AWM&rsquo;s Automated Inventory Intelligence solution, which uses a series of super-wide-angle low-light HD cameras and AWM&rsquo;s LED Fascia technology (a type of automated shelving technology). Machine learning tracks shopper purchases and makes shopping list recommendations during subsequent visits. Once shopping is done, shoppers simply exit the store and are automatically charged in their online accounts.&nbsp;
 
 
 Key customers and partnerships
 
 
 The company&rsquo;s partnerships go beyond the retail sector. In January 2020, AWM partnered with OptiCrib to offer friction-free inventory management in the industrial and commercial supply space. Meanwhile, AWM&rsquo;s retail partnerships include Albertsons, Aramark, Coop, Diageo, The Home Depot, Greenpicks Market, and 
 <a href="https://sp-edge.com/updates/25770">
 Choice Markets
 </a>
 .
 
</div>

AWM Smart Shelf

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 &amp; 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 partnershipsAs 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 ( <a href="https://sp-edge.com/updates/29120">May 2024 </a>), and Chicago White Sox (<a href="https://sp-edge.com/updates/33472">September 2024</a>) 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 <a href="https://sp-edge.com/updates/9389">March 2022 </a>AiFi partnered with Sodexo, the French campus food service operator, to bring autonomous grocery stores to campuses across the US.Funding and financialsBy 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.

AiFi

<div>
 
 Eflyn is an Ontario-based developer of interactive digital displays, self-checkout kiosks, and vending machine solutions with operations in Canada and the US. Eflyn&rsquo;s self-checkout kiosk range includes solutions designed for the retail industry, as well as restaurant self-ordering and donation and fundraising kiosks for places of worship and non-profit organizations.&nbsp;
 
 
 Eflyn&rsquo;s self-checkout kiosks and stations for retailers enable customers to scan items using a built-in scanner and complete the purchase process using the interactive screen and an attached debit/credit card machine. Eflyn also offers shopify integrations to its kiosk solutions, enabling retailers to integrate their ecommerce operations with retail. The customers can use an Eflyn kiosk with a shopify integration to browse products in the retailer&rsquo;s ecommerce store, check in-store availability, and place an online order in the event an item is not available in store.
 
 
 Key customers and partnerships
 
 
 In November 2020, Eflyn Shopify Kiosks were made available to all the company&rsquo;s customers after a trial period with select retailers. Since then, Eflyn served customers across various industries, including retail, education, and foodservice, including customers such as Pet Collar Emporium, Lowe's, Toys&ldquo;R&rdquo;Us Canada, and Ryerson University.&nbsp;
 
</div>

Eflyn

MishiPay is a London-based startup that offers a self-checkout system powered by Radio Frequency ID (RFID) and cloud computing. MishiPay provides an app that allows shoppers to scan the barcodes of products and carry out payments using their mobile devices. The company also provides a progressive web apps (PWA) solution to allow customers to use their self-checkout solution without the need to install and launch an Android app. The company claims the PWA increases transactions by 10 times and has a higher user adoption rate than platform-specific apps.As of April 2024, MishiPay also provides a range of barcode scanner-based self-checkout kiosk solutions, which include a mounted 10-, 15-, or 22-inch tablet that can be integrated with existing point-of-sales solutions in the store.Key customers and partnershipsAs of March 2024, MishiPay’s solutions were used by 30 brands across 14 countries in North America, Europe, and the Middle East. In August 2016, MishiPay partnered with Cisco UK and had its first commercial deployment at Deloitte’s “Store of the Future” in London. Mishipay’s other retail deployment partnerships include Dufry (2017), Leroy Merlin (2017), Saturn (2018), Mango (2018), Decathlon (2019), MUJI (2020), SPAR (2020), Londis (2020), Flying Tiger Copenhagen (2021), Virgin Megastore (2022), Grandiose super markets (2023), Maple Leaf Sports Entertainment (December 2024).In March 2021, the company also deployed its technology in US airports in collaboration with Paradies Lagardère, a North America-based airport retailer and restaurateur. As of 2022, MishiPay had deployments at 30 airports across North America.

MishiPay

Companies providing smart shelves (hardware and software systems, including vision-based systems) and stock tagging systems (including radio frequency identification [RFID]) to track items inside a store

Companies providing shopping carts enhanced with cameras, sensors, and AI to enable automatic checkout

Includes self-checkout kiosks (typically cameras and weight sensors) and mobile app-based scanning solutions (commonly leveraging barcodes and QR codes) that enable users to carry out the checkout process themselves

Companies providing hardware and software solutions (including cameras, sensors, and AI computer vision solutions for stores) to enable customers to completely avoid the checkout process (allowing them to enter a store, pick up an item, and exit the store)

Solutions in the industry are often powered by AI, and ML

Solutions in the industry are often powered by IoT, cloud computing, AI, and ML

Companies in “automated checkout” often use IoT

Zliide

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