Nomitri, the Berlin-based AI startup on a mission to disrupt the checkout market, has just picked up about €2.5 million. The round was led by FoodLabs with prominent business angels from the tech retail space joining the round. Existing investors, such as renowned business angels and Family Offices also continue their support.
With the fresh capital, Nomitri will expand its commercial network and strengthen its engineering team.
Launched in 2021, Nomitri develops Edge and Embedded Visual AI solutions for retailers. With its mobile-based self-checkout solution and smartcart solution, the company helps brick and mortar retail create a personalized and data-driven customer experience.
Nomitri Co-founder and CEO Trinh Le Fiedler commented: “Securing this new funding is proof that the world is noticing us. We are happy to have the great FoodLabs team backing us on our mission to build products that make a difference to our customers and solve real problems in the retail space with our embedded AI solutions.”
Nomitri wants to bring previously online-only advantages to stationary retail for the first time. Offline shopping lacks real-time intelligence, customization and optimization. With Nomitri’s solution, retailers can gain deeper insights into customers’ individual shopping behaviour and to communicate with their customers in real-time.
Embedded AI deep-learning algorithms run directly on customers’ smartphones, so gone are the days of waiting at checkouts. The solution is asset-light, low cost, privacy-preserving and can be set up in just three days. Video data never leaves the customer’s device.
Whilst the coronavirus pandemic has changed shopping habits, one of the big changes is customers’ increased needs for contactless and personalized shopping. In-store innovation is needed to create a unique shopping experience and bring people back to brick-and-mortar stores.
Since its 2021 launch with German supermarket chain Edeka Lüning, Nomitri received an incredible approval rate of 97% among shoppers.
Patrick Huber, General Partner at FoodLabs, commented: “Right from the start we have been impressed by the proprietary technology as well as the outstanding expertise and commitment of the Nomitri team. The food retail revolution is just getting started, and we’re convinced that Nomitri’s AI technology can set new standards here.”