Summary:
Sensei raises €15 million Series A funding to expand its contactless store platform.
Aiming for 1,000 autonomous points of sale by 2026, currently operating in five countries.
AI-powered sensors and computer vision streamline the shopping experience.
Contactless stores enhance operational efficiency by reducing checkout costs and preventing stock-outs.
The competitive landscape includes major players like Standard Cognition and Trigo, with significant funding rounds.
The Contactless Store Revolution
Amazon Go pioneered the concept of totally contactless stores, and now major players like 7-Eleven and Walmart are joining the trend. As the market expands, numerous startups such as Standard Cognition, Zippin, AiFi, Grabango, and Trigo are stepping up to offer their innovative technologies to retailers.
Sensei's Growth in Europe
Sensei, a Portuguese startup, is making significant strides in the contactless store sector. Recently, it secured a €15 million Series A funding round led by BlueCrow Capital, with participation from notable investors like Lince Capital, Explorer Investments, Kamay Ventures (the investment arm of Coca-Cola and Arcor Group), and existing backers Metro AG and Techstars Ventures.
In 2021, Sensei raised $6.5 million (€5.4 million) in seed funding, aiming to establish 1,000 fully autonomous points of sale by 2026. Currently, it operates in Portugal, Spain, France, Italy, and Brazil, with plans to expand into central and northern Europe.
How Sensei Works
Leveraging computer vision, AI-powered sensors, and real-time algorithms, Sensei's system simplifies the shopping experience by automatically updating a customer's cart and presenting a ready-to-pay list of items while safeguarding their identity and privacy.
Benefits of Contactless Stores
Contactless stores help reduce checkout costs, prevent stock-outs, and provide retailers with real-time visibility into store operations. According to Vasco Portugal, CEO and co-founder of Sensei, the company has seen substantial growth, particularly last year, and aims to tackle two main issues in the retail industry: poor customer experience and the challenge of processing sales information in real-time.
Competitive Landscape
The competition is fierce, with rivals like Standard Cognition raising $239.4 million, Trigo with $199 million, Grabango at $93.8 million, AiFi at $87.1 million, and Zippin with $44 million in funding. The race for automation in retail is on, and Sensei is poised to be a key player in this transformative journey.
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