This article provides an overview of 10 new retail automation companies improving retail efficiency, operations, and shopping experiences through technological advancements. Each company contributes to redefining retail operations, demonstrating the potential of AI and automation to streamline transactions, manage inventory more effectively, and reduce waste. Their efforts highlight the growing influence and necessity of retail automation in meeting modern consumer demands and operational challenges.
Continue reading to gain up-to-date and data-driven insights on:
- Profiles of 10 Emerging Retail Automation Companies
- How to Scout New Retail Automation Companies Easily
Key Takeaways
Drawing insights from the Big Data & AI-powered StartUs Insights Discovery Platform that provides data on over 4.7+ million emerging companies globally, we explore the evolving landscape of the retail automation industry. This sector is marked by key trends and a substantial workforce, shaping its future. Here are some key insights at a glance:
- Current Retail Automation Trends: Key trends include immersive customer experience, smart checkout, omnichannel commerce, predictive analytics, and robotic inventory management.
- Retail Automation Industry Statistics: The sector comprises 7.1K+ organizations worldwide. On average, the industry employs about 24 people in 900+ new companies founded in the last five years, witnessing 2020 as the average founding year. Moreover, the average funding received by the industry in the same span is 14.7 million.
- 10 New Retail Automation Companies to Watch:
- Retellect – AI Checkout Processes
- VenHub – Robotic Retail Store
- Inventoro – Sales Forecasting and Inventory Management
- Avivatech – Cash and Check Automation
- FaindersAI – Computer Vision for Autonomous Store
- Ubyko – Dark Stores Automation
- Blockstore Group – Real-time Waste Reduction Data
- Versicles – Micro-retail Kiosks
- QReceipts – Digital Receipt Application
- Ubica – Retail Store Digital Twin
Discover 10 out of 900+ Emerging Retail Automation Companies
In this segment, we explore 10 new retail automation companies transforming the retail industry with micro-retail kiosks, digital receipt applications, and advanced sales forecasting and inventory management systems. These companies integrate technologies for seamless digital transactions, including predictive analytics for stock optimization. They employ sophisticated algorithms and data analysis tools to refine retail operations, elevate customer engagement, and ensure inventory accuracy.
Note on Signal Strength
One of the unique metrics we feature for each company is Signal Strength, a proprietary data point generated by our Discovery Platform. It gauges the extent to which a company’s influence has permeated the global ecosystem of startups, scaleups, and emerging companies. This proprietary metric serves as a valuable guidepost for understanding a company’s standing in the broader market landscape.
1. Retellect
- Founding Year: 2019
- Employee Range: 2-10
- Location: Latvia
- Signal Strength: Very Strong
- What they do: Retellect enhances retail checkout processes with AI. Its product, The Picklist, identifies the products at self-checkout points, bypassing the need for barcodes. It boosts staff efficiency and strengthens loss prevention measures. Retailers benefit from improved checkout speed and accuracy, enhancing customer satisfaction and reducing wait times. Further, Retellect’s solution elevates staff productivity by allocating resources more effectively and optimizing operational flow.
2. VenHub
- Founding Year: 2023
- Employee Range: 11-50
- Location: USA
- Signal Strength: Medium
- What they do: VenHub develops a fully autonomous, robotic-operated retail store, leveraging AI and smart inventory management systems to enhance the shopping experience. This solution operates 24/7, offering products from essentials to tech gadgets with customization. The plug-and-play solution simplifies installation within days, reducing operational costs and overhead. VenHub’s integration of advanced sensors and robotics enables efficient, personalized customer service without the need for human intervention. It utilizes data-driven insights for inventory management and customer preferences, developing customer-centric solutions.
3. Inventoro
- Founding Year: 2020
- Employee Range: 2-10
- Location: Czech Republic
- Signal Strength: Very Strong
- What they do: Inventoro leverages AI to develop a platform advancing sales forecasting and inventory management. This platform empowers businesses to reduce inventory, boost cash flow, and increase growth while increasing revenue by optimizing the product portfolio. With integrations across multiple platforms, Inventoro predicts future sales to manage stock levels. By automating orders, it saves time and enhances staff productivity. Its technology categorizes products into top sellers, slow movers, and dead inventory, enabling targeted replenishment and efficient inventory reduction.
4. Avivatech
- Founding Year: 2021
- Employee Range: 11-50
- Location: USA
- Signal Strength: Very Strong
- What they do: Avivatech automates cash and check transactions with XpressCash, enhancing both speed and security. XpressCash allows immediate fund access and enterprise-wide transaction visibility. Utilizing cash recyclers, dispensers, and Check-21 compliant systems, Avivatech integrates with retail cash management devices. Retailers benefit from reduced operational costs and improved cash flow management.
5. FaindersAI
- Founding Year: 2020
- Employee Range: 11-50
- Location: South Korea
- Signal Strength: Very Strong
- What they do: FaindersAI advances the offline retail sector through its AI-powered computer vision technology, enabling an autonomous store environment. It eliminates the traditional checkout processes with its pay feature. Further, FaindersAI enhances inventory management by integrating an advanced ERP tool, which empowers retailers with real-time insights, similar to e-commerce analytics. The platform analyzes customer data from offline interactions, converting these insights into improved customer experiences. The increased operational efficiency and enriched customer interactions enhance the operations of offline retail spaces and interaction with their consumer base.
6. Ubyko
- Founding Year: 2021
- Employee Range: 2-10
- Location: Spain
- Signal Strength: Very Strong
- What they do: Ubyko specializes in the automation of dark stores and retail warehouses, streamlining operations, enhancing space utilization, and reducing costs while also elevating customer service levels. The company develops Ubyko Node, a blend of nanofulfillment centers, ATM-like interfaces for 24/7 product access, and an urban experience platform. It remotely manages content and leverages augmented reality for digital storefronts. These components create an omnichannel solution that reduces the ecological impact of deliveries, optimizes last-mile energy resources, and delivers a logistical system for smart cities. It streamlines the supply chain and addresses the challenges of the urban retail experience, making it more interactive and responsive.
7. Blockstore Group
- Founding Year: 2020
- Employee Range: 11-50
- Location: Finland
- Signal Strength: Medium Strong
- What they do: Blockstore Group develops Blockster platform to streamline inventory management with real-time data for waste reduction. It also optimizes supply chain efficiency through traceability and predictive analytics. Its performance monitoring tools offer insights for inventory and staffing, enhancing operational decisions. The walk-in-walk-out shopping experience with character recognition and sensor systems, provides customers with convenience and personalization. Blockstore Group creates autonomous grocery stores with automated operations.
8. Versicles
- Founding Year: 2022
- Employee Range: 2-10
- Location: India
- Signal Strength: Medium Strong
- What they do: Versicles enhances small and medium retail stores by deploying micro-retail stores and an eCommerce engine with a kiosk. It also assists marketers with tools to execute personalized cross-channel campaigns. It integrates a data layer to consolidate sales, product, and customer data for personalization through AI. The kiosk enables integrated campaign launches with marketing automation and cross-channel execution. In addition, Versicles’ omnichannel integrations ensure consistent personalization across all customer touchpoints.
9. QReceipts
- Founding Year: 2022
- Employee Range: 2-10
- Location: UAE
- Signal Strength: Medium
- What they do: QReceipts eliminates paper receipts by offering a digital receipt application that integrates with existing POS systems for a smooth transition. This plug-and-play application uses QR code scanning and NFC technology, ensuring that customers receive receipts on their phones instantly without the need for personal data exchange. Further, it removes the common digital receipt delivery issues such as email bounce-backs or the need for app downloads. It enables a privacy-centric digital receipt solution enhancing customer engagement and operational cost savings.
10. Ubica
- Founding Year: 2020
- Employee Range: 11-50
- Location: Germany
- Signal Strength: Strong
- What they do: Ubica enhances retail efficiency through the development of digital twins of retail stores. They are created using data from autonomous scanning robots. This technology provides retailers with a precise data image of their branches. These digital representations assist in supply chain optimization, daily out-of-shelf detection, and the creation of optimized walking paths. This ensures high planogram compliance and improves the overall shopping experience.
Quick Tip to Find New Retail Automation Companies
Utilizing a SaaS platform like the Discovery Platform for identifying new retail automation solutions provides significant benefits compared to traditional scouting methods:
- Streamlined Efficiency: The Discovery Platform offers advanced tools that streamline the scouting process. It replaces your hours of conventional desk research, saving time and resources in identifying retail automation innovations.
- Access to Real-time Insights: Gain a competitive edge with up-to-date information on the latest trends in the retail automation industry. The platform keeps you informed with near real-time updates on emerging retail automation companies and news, enabling you to make swift and informed decisions.
- Tailored Exploration: Customize your search to focus on specific niches within the retail automation sector, such as digital receipt, computer vision for autonomous stores, or retail store digital twin. The platform’s diverse filtering options allow you to target your scouting efforts precisely, ensuring that you find the most relevant and groundbreaking companies in the field.
Ready to Explore All New Retail Automation Companies?
We’ve explored the dynamic landscape of the retail automation industry, examining the latest trends and spotlighting exceptional companies driving innovation. To dive deeper, download our free Retail Report or schedule a demo of the Discovery Platform for a customized exploration of these groundbreaking developments.
