Sensei, a Portuguese scaleup and a European pioneer in autonomous retail technology, has secured €15 million in a Series A funding round to dramatically scale its vision: 1,000 fully autonomous points of sale by 2026. With a mission to reshape the shopping experience, Sensei’s breakthrough technology promises to eliminate checkout lines, streamline operations, and give retailers unprecedented insights into their businesses.
This funding will enable the company to expand across Europe, particularly in central and northern regions, while also opening the World’s largest autonomous store next year.
Reinforced by existing investors like Metro AG and Techstars Ventures, the investment round, led by BlueCrow Capital, with the participation of Lince Capital, Explorer Investments, and Kamay Ventures (the investment arm of Coca-Cola and Arcor Group), marks a pivotal moment in Sensei’s journey.
Vasco Portugal, CEO and co-founder of Sensei, said: “We are driven by a relentless obsession to deliver the ultimate store experience. Our technology operates invisibly within the store environment, yet it has a massive impact – enhancing the shopping journey for consumers and driving operational efficiency for retailers.“
Using advanced computer vision, AI-powered sensors, and real-time algorithms, Sensei creates an environment where customers can shop seamlessly – without waiting in queues or manually scanning items. As they shop, their cart is automatically updated, and at checkout, the system displays a ready-to-pay list of items – allowing customers to pay however they prefer, while their identity and privacy are fully protected. Shopping is as intuitive as grabbing something from your own pantry.
This funding will also support a 30% increase in Sensei’s workforce over the next six months, reinforcing its capacity to meet the demands of a rapidly growing customer base across Portugal, Spain, France, Italy, and Brazil, while also driving its strategic expansion into central and north Europe.
At a time when artificial intelligence is transforming industries worldwide, from autonomous vehicles to conversational AI like ChatGPT, retail is primed for its own revolution. According to António de Mello Campello, Partner at BlueCrow Capital: “Artificial intelligence, as we have seen in recent months with the success of ChatGPT, in general terms, and in the various sectors, is transforming several industries, and at BlueCrow we believe that retail is one of the biggest opportunities and is about to be disrupted. Sensei has proven to be one of the best in the sector, has had a long history and great development in the various sectors associated with this transformation, with real potential to lead autonomous retail around the world. We are very pleased to have had the opportunity to lead this round and to be part of this project, confident in its success in the very medium term. The revolution is already coming to our cities!“
With the rise of automated stores, retailers face a crucial moment to embrace the future. By integrating Sensei’s frictionless technology, they not only enhance customer satisfaction but also achieve significant cost savings. Sensei addresses key pain points such as reducing checkout costs, preventing stock-outs, and offering retailers real-time visibility into store operations.
Looking ahead, Gabriela Ruggeri, Managing Partner at Kamay Ventures, expressed confidence in Sensei’s trajectory: “We believe in the team led by Vasco Portugal to consolidate Sensei’s growth and presence in the autonomous retail sector, as well as to expand the technological solution developed by the company in Latin America, strengthening its influence in the sector.“
As Sensei marches towards its goal of creating 1,000 autonomous points of sale, it’s clear that the future of shopping is here – and Sensei is leading the way.
Read the orginal article: https://www.eu-startups.com/2024/10/lisbon-based-sensei-raises-e15-million-to-revolutionize-autonomous-retail/
