A London, UK-based firm called Autonomo has acquired $2 million in funding. The company offers checkout-free software that lets shops transform their current locations into cashierless shopping experiences.
Potter Ventures and River Capital sponsored the round, which raised the total of $3.8M, through their EIS growth fund “fund:AI.”
The money will be used by the business to increase operations and development initiatives.
Harvard deep tech startup Autonomo, led by CEO James Sutherland, wants to make shopping easier for consumers and merchants. By using computer vision, checkout counters are eliminated from retail establishments, enabling patrons to simply tap their phone or card, select their purchases, and leave.
Its 28-person team works with gas stations, convenience stores, and grab-and-go establishments to boost efficiency and consumer satisfaction in brick and mortar retail.
Over 20,000 consumers have utilized the technology thus far from well-known European businesses like Edeka.
Concerning Autonomo
- To help retailers treble their revenues, they develop software for autonomous stores.It’s difficult for retailers (and other companies) to get employees back into their stores.
- Good customer service is impossible for stores to provide without employees. Stores can provide exceptional customer service with fewer employees thanks to Autonomo.
- Staff are freed by autonomous computer vision, which moves them from behind the checkout into the store to create a human experience that stimulates the six senses with recipes, product origins, and lighthearted conversation.
- The first pilot store for Autonomo was constructed in a posh neighborhood. They supply our technology to a variety of retailers, including as supermarkets, bakeries, coffee shops, and event caterers.
