Tiliter, a Sidney, Australia-based retail tech startup, raised $7.5M in funding.
The round was led by Investec Emerging Companies (IEC) with participation from Eleanor Venture and New York’s Cornell University.
The company will use the funding to accelerate its expansion across Europe and the U.S., with many supermarkets.
Founded in 2017 by Marcel Herz, Martin Karafilis, and Chris Sampson, Tiliter is a artificial intelligence (AI) provider whose technology uses computer vision to recognise products without barcodes. Its technology automatically identifies items without the need for barcodes, packaging, and price stickers, making it easier for shoppers to manage during self-checkout.
The company is currently focused on the Supermarket vertical and its camera and software system uses AI to pre-select items and remove the need for manual entry.
Early adopters include Woolworths in Australia with over 20 live stores, Countdown in New Zealand, and several retail chains in the U.S., such as New York City’s Westside Market.
FinSMEs
20/10/2020