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Advertima raises €15m to turn stores into smart spaces
- August 6, 2020
- Steve Rogerson
Swiss start-up Advertima has raised €15m in series A funding to accelerate the development of a computer vision platform that lets retailers transform their stores into smart spaces.
Advertima empowers grocers and other retailers to create smart spaces that offer consumer-centric, frictionless and relevant in-store shopping experiences. The investment will enable the start-up to develop its platform on a global scale and strengthen its position as a player in the smart space environments.
Through computer vision, machine learning and artificial intelligence, Advertima has created the Human Data Layer, which visually interprets human behaviour in physical spaces. By providing a real-time and easily accessible data stream, Advertima provides the ability for smart spaces to interact with people in a seamless and meaningful way.
The first sector that Advertima has set its sights on is grocery retail. In a fast-changing retail world that is quickly adapting to the impact of Covid-19, the technology helps fast-track the evolution of grocery retailers. It provides smart inventory management and autonomous checkout while showing engaging and relevant content on smart digital screens throughout the store. By making retail spaces smart, grocers can increase the efficiency of their stores and their revenues, and generate greater returns per square metre.
The company believes in the near future smart spaces will be ubiquitous and a part of the fabric of everyday life. Consumers are at the core of the evolution of smart spaces and will expect a living and working environment where interaction with technology is seamless and unnoticeable.
Advertima’s smart retail portfolio has been developed with Switzerland’s largest retailer Migros and the international grocer Spar. The technology is already being used by 14 companies in eight countries.
“We’ll be investing €25m in the further development of our smart retail over the next two years,” said Advertima CEO Iman Nahvi. “€10m of this investment will be financed by our own revenues so this €15m round is a crucial milestone to help us achieve our vision for how the world will look by 2030. We see a world where the physical and digital layers are merged to enhance our daily professional and private lives. Advertima’s Human Data Layer will be one of the irreplaceable components in this whole ecosystem of applications and technologies that will build the foundation of our future lives.”
The investment round was led by existing shareholder Swiss real estate company Fortimo Group.
“It is clear that the rapid digitalisation of our society is going to have an impact on consumer habits, especially in the retail sector,” said Fortimo Group founder Remo Bienz. “Advertima is at the cutting-edge of technology in the retail space. As a long-standing shareholder, we know how visionary their technology is, but also how it has been successfully adopted by major, global organisations and already generated significant revenues. We’re excited to be part of Advertima’s journey.”
Advertima is a 3D computer vision platform provider founded in 2016 and headquartered in St.Gallen, Switzerland. It visually interprets human behaviour in the physical world, enabling smart spaces to interact with people.
“Since its founding in 2016, our Swiss start-up has had a global technology vision,” said Damir Bogdan, Advertima seed investor and president of the board. “This funding round brings our vision nearer to reality.”