Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the retail industry. This time, you get to discover five hand-picked IoT solutions for retail companies.
Out of 235, the Global Startup Heat Map highlights 5 Top IoT Solutions impacting Retail Companies
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 235 exemplary startups & scaleups we analyzed for this research. Further, it highlights five startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these five startups & scaleups in this report. For insights on the other 230 IoT solutions for retail companies, get in touch with us.
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RapidPricer enables Automated Retail Pricing
Founding Year: 2017
Location: Amsterdam, Netherlands
Funding: USD 385 000
Use this solution for Shelf Life Identification
RapidPricer is a Dutch startup that uses AI and IoT to dynamically price retail store merchandise. In-store cameras and sensors monitor perishable products and AI-driven deep learning analytics determines how fresh they are. Based on the freshness of products, their prices are automatically updated. These prices are showcased through RapidPricer’s electronic labels and are updated in real-time. This enables retailers to reduce stock wastage and sell the products in inventory more quickly.
Cooler Screens develops Smart Retail Displays
Founding Year: 2017
Location: Chicago, USA
Funding: USD 80 M
Partner for Retrofittable Smart Displays
Cooler Screens is a US-based startup that transforms in-store cooler and freezer surfaces into IoT-based smart displays. The startup’s smart panels combine sensors and AI to make interactive screens. These panels are retrofitted on a retail store’s cooler or freezer surfaces. Customers walking into the store interact with these smart surfaces that enhance their in-store experiences and provide more information on the products. They also function as advertising tools that enable retailers to add offer tags and filter advertised products. This leads to increased footfall in low-traffic areas of the store.
WonderStore provides an Intelligent Store Camera System
Founding Year: 2017
Location: Cagliari, Italy
Funding: USD 116 000
Reach out for Customer Behavior Analytics
Italian startup WonderStore develops an in-store analytics platform and utilizes IoT sensors for analyzing consumer behavior. Its plug-in system, WPlug, connects with the security cameras and analyzes images using computer vision to understand customer journeys in stores. The platform also provides customer analytics such as gender and shopping preferences to inform staff on future visits or by brands to personalize their services.
In Time Link develops Smart Vending Machines
Founding Year: 2017
Location: Rome, Italy
Funding: USD 206 000
Collaborate for Retail Payment Systems
In Time Link is an Italian startup that offers vending machines for retail stores. Its IoT-based electronic board connects the vending machine to the cloud, making its data accessible online. The startup also provides a companion smartphone app that customers use to make payments for purchases made on the vending machine. The data for these cashless transactions are also processed on the cloud. In Time Link allows retail stores to transform legacy vending machines into smart devices that also improve customer experiences.
Neoalto offers Smart Shelf Sensors
Founding Year: 2019
Location: Cologne, Germany
Work with Neoalto for Retail Store Automation
German startup Neoalto develops smart shelf sensors. It tracks products being lifted from the shelves and updates the inventory management system as well as identifies shoplifting situations. The startup’s solution also offers sales analytics and automated inventory purchasing tools. Neoalto enables retailers to automate inventory management and also ensure product availability to improve reliability and sales.
Discover more Retail Startups
Retail startups such as the examples highlighted in this report focus on in-store interactive systems, real-time inventory tracking, personalized product offerings as well as behavior and sales analytics. While all of these technologies play a major role in advancing the retail industry, they only represent the tip of the iceberg. To explore retail technologies in more detail, simply let us look into your areas of interest. For a more general overview, download our free Retail Innovation Report to save your time and improve strategic decision-making.
