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AiFi

December 8, 2020

AiFi’s Cashierless Checkout Powers New 4,000 Sq. Ft. Store in Shanghai

AiFi announced today that its technology is powering a new cashierless checkout store in Shanghai. According to an email sent to The Spoon, the 4,000 sq. ft. store carries 2,000 SKUs including fresh meat and snacks, and is the largest such store powered by AiFi’s technology.

AiFi is perhaps best known for its standalone, shipping container-sized NanoStores, which offer pop-up cashierless retail experiences. With today’s launch, the company is showing that its technology can scale up (at least a bit) and be used for larger-format stores. The new AiFi-powered store in Shanghai is a “hybrid” store that also features a human cashier should shoppers prefer that option.

Casherless checkout allows shoppers to walk into a store, grab what they want and leave, getting charged automatically upon exit. The global pandemic has accelerated interest in cashierless checkout retail experiences because they help reduce human-to-human interaction, and can also cut down on the amount of time shoppers spend inside a store. Fellow cashierless startup Zippin announced yesterday that it has partnered with Fujitsu to bring its technology to market in Japan.

Unlike Zippin, which uses a combination of shelf sensors and computer vision for its cashierless checkout solution, AiFi relies solely on computer vision to track shoppers as they move through a store. Those computer vision capabilities could soon get a boost, thanks to a recent investment in the company from Qualcomm Ventures, the venture arm of the chip giant. As we wrote at the time of the fundraise:

That a Qualcomm entity would invest in AiFi isn’t too surprising. AiFi’s stores rely on a lot of wireless technology, and the startup’s pitch is that it creates a faster retail experience by producing shopping receipts in real time. But Qualcomm is also moving more into computer vision, which is a cornerstone of cashierless checkout. In July, Qualcomm announced a chip cluster that adds machine learning and AI to mid-tier cameras. So investing in a company that gets that tech into more locations makes sense.

And AiFi is certainly looking to get into more locations. AiFi says it has partnerships with top grocery chains in the U.S., Europe and Australia. Earlier this year, AiFi announced that it was going to deploy 330 new and retrofitted stores around the world by the end of 2021.

October 19, 2020

Qualcomm Ventures Invests in AiFi for Autonomous Retail

AiFi, a startup that makes cashierless, autonomous retail environments, announced today that it has raised a new round of funding from new investors Qualcomm Ventures and Plum Alley as well as existing investors such as Cervin Ventures and TransLink Capital.

The amount of new funding was not disclosed, but the AiFi press announcement said the total amount raised by the company was now $30 million. As of last Friday, Crunchbase had AiFi’s funding at $15 million and listed Qualcomm Ventures as an investor for an undisclosed sum from back in August. So if we’re reading this correctly, it appears that the new round is $15 million.

But equally interesting as the funding is the investor, Qualcomm Ventures, the venture arm of mobile technology giant Qualcomm. The canned quote from Qualcomm in the press release said

“As intelligence continues to move from the cloud to the wireless edge and demand for contactless shopping grows, we are excited to be investing in AiFi,” said Carlos Kokron, VP Qualcomm Technologies, Inc. and Managing Director, Americas at Qualcomm Ventures. “We were very impressed with AiFi’s innovative edge-computing solutions and look forward to their technology helping accelerate the deployment of 5G.”

That a Qualcomm entity would invest in AiFi isn’t too surprising. AiFi’s stores rely on a lot of wireless technology, and the startup’s pitch is that it creates a faster retail experience by producing shopping receipts in real time. But Qualcomm is also moving more into computer vision, which is a cornerstone of cashierless checkout. In July, Qualcomm announced a chip cluster that adds machine learning and AI to mid-tier cameras. So investing in a company that gets that tech into more locations makes sense.

In addition to retrofitting existing stores, AiFi makes self-contained, autonomous, shipping container-sized nano-stores. The company says it will be deploying them to 330 locations around the world in 2021, and that it has partnerships with a number of top grocers across the U.S., Europe and Australia.

The pandemic has spurred interest in contactless technologies such as cashierless checkout. Caper just announced a countertop cashierless system for convenience stores. Grabango publicly launched its integration with Giant Eagle’s GetGo Market. Mastercard launched a cashierless checkout partnership with Accel Robotics. And AWM is powering a new cashierless market for a California apartment building.

For its part, AiFi said it will use the new funding to continue to develop its technology.

July 6, 2020

AiFi to Launch 330 Autonomous Stores by the End of 2021

AiFi, a cashierless checkout startup, announced today that it will deploy 330 new and retrofitted autonomous stores globally by the end of 2021.

AiFi is perhaps best known for its NanoStore, a fully automated pre-fab pop-up retail experience packed inside a small building akin to a shipping container. AiFi’s Orchestrated Autonomous Store Infrastructure and Services (OASIS) tech platform can also be used to retrofit existing retail spaces with autonomous capabilities, allowing shoppers to simply walk in, grab what they want and leave. The system charges them automatically.

According to a press release sent to The Spoon, AiFi’s OASIS technology will be powering 330 new autonomous stores that range anywhere between 800 sq. ft. convenience stores to 10,000 sq. ft. grocery stores. The new stores will be primarily located across the U.S. and Europe, with expansion to other parts of the world planned for the future

The COVID-19 pandemic is still raging across the U.S., which could be accelerating the adoption of autonomous or contactless checkout. Fears over the coronavirus have already caused grocery stores to close down salad and hot bars. Automating checkout would remove the necessity of standing in line with other people, limit cashier exposure to the virus, and obviate the need to interact with a payment terminal that lots of other people have touched throughout the day.

To be sure, eliminating the traditional checkout stand would be a huge undertaking, and large grocery chains aren’t exactly nimble when it comes to implementing new technology. Plus cashierless checkout brings up ethical issues around serving populations that are underbanked. Perhaps, however, AiFi will be taking a page out of Zippin’s playbook and only automating part (like one aisle) of a partner’s store rather than retrofitting the entire building.

We won’t have to wait long to see. AiFi says that it is already powering 10 stores in locations around the world including California, Texas, Amsterdam, Paris and Shanghai. AiFi also has partnerships with Albert Heijn, Carrefour, and others it has yet to announce. If AiFi sticks to its schedule, it will be launching an average of 18 stores per month for the next year and a half.

December 31, 2019

Two Trends to Watch Out for in 2020: Pop-Ups and Equity Crowdfunding

Based on the volume of digital ink I devoted in 2019 to cashierless checkout and robot-related startups, you’d think that I would pick those sectors as trends to watch in 2020.

While I think those segments will continue to grow steadily over the coming months, the two trends I’m most fascinated by are the ones I actually wrote very little about this year. If you’re looking for a couple of big, juicy trends I think you should pay attention to, you should explore semi-permanent pop-ups and equity crowdfunding.

Pop-up stores have been around for a while, but there are a number of startups looking to capitalize on their small footprint and easy setup to create new retail experiences. AiFi creates nano-stores are small, self-contained shipping container-like boxes that house an operation like a convenience store. These stores are cashierless (like Amazon Go), so customers can walk in, grab what they want and go.

Zippin is another company building out cashierless retail experiences, though it’s “Zippin Cube” is more customizable. The Zippin Cube is modular, so it can fit into existing, odd-shaped real estate. The Cubes can also hold coolers and come pre-wired, so they can be assembled and up and running in as little as three weeks.

Both Zippin and AiFi allow retail brands to quickly, easily and inexpensively set up pop-up stores in sporting venues, office lobbies or even music festivals. Retailers can then extend their brand into new venues without expensive and permanent build out. Think: a mini-Safeway at the base of your office building or a 7-11 at Coachella.

The ability to cheaply squirrel these stores into the nooks and crannies of high-volume but unused space will entice retailers to try them out next year.

Speaking of enticing, I expect startups will sing their siren song next year to entice everyday people to pony up through equity fundraising. Unlike the traditional product crowdfunding on Kickstarter, equity crowdfunding offers investors real equity in the companies they back.

GoSun, GOffee (unrelated “Gos” there) and Miso Robotics all launched equity crowdfunding campaigns this year. GoSun has raised $345,000 with 25 days left in its campaign. GOffee raised $1.07 million, and Miso Robotics aims to equity crowdfund a whopping $30 million.

This is actually GoSun’s second round of equity crowdfunding. The company raised $500,000 in seed money from the crowd in 2017. I spoke with GoSun CEO Patrick Sherwin earlier this year about the reason for crowdfunding and he told me:

“Traditional VC will breathe down your neck,” Sherwin said, “And drive everything towards more profit. This gives us more flexibility and keeps us in charge.”

Greater control over their own destiny is an attractive proposition for startups, and equity crowdfunding also has the benefit of giving companies that aren’t located in major VC hubs access to capital.

There are still plenty of SEC hurdles that a company must go through when equity crowdfunding, but I imagine we’ll see a lot more companies go that route to grow the way they want to.

October 9, 2019

AiFi’s Cashierless Checkout Promises Real-Time Receipts, and Nano-Sized Stores

I recently took a friend on her first Amazon Go shopping experience. She walked in, grabbed her things and walked out, as one does in Amazon’s cashierless checkout store. But she didn’t receive her receipt notification until a few minutes after we left the store.

I too have experienced this type of gap, and while I’m sure Amazon will always get its money, the bigger concern in that “dark” time is whether or not Amazon Go’s sensors and cameras accurately tallied what I took. If I don’t get a receipt until I’m back at the office and it’s wrong and they charged me too much, do I then trudge back down to the store? And at that point, how do I prove I didn’t take something?

Removing this receipt delta is one area where startup AiFi (pronounced eye-fye) thinks it has a competitive advantage in the cashierless checkout space. I spoke with Steve Gu, cofounder and CEO of the Santa Clara, CA-based company this week, who told me that the AiFi system delivers receipts in 200 milliseconds upon leaving a store. So, basically in real time.

But customers aren’t shopping at cashierless checkout stores just for faster receipts. The whole point is a more convenient buying experience, another area where AiFi might have an edge as the cashierless concept moves more into the mainstream. In addition to retrofitting existing stores with cameras and sensors to create frictionless shopping, AiFi is also building small, modular NanoStores.

These NanoStores vary in size but think of something like a shipping container converted into a convenience store. Last month, Ahold Delhaize installed and opened up a 150 sq. ft version of AiFi’s NanoStore under the Albert Heijn brand in the Netherlands. The store doesn’t even require a mobile app to enter, with customers able to use their debit or credit card to gain entrance. You can see it in action in this video:

Albert Heijn's digital store

The power of the NanoStore lies in its ability to extend a retail brand into new venues without having to do a big buildout. For example, a Safeway could open a cashierless grocery checkout pop-up store in an office building, a college campus or even an outdoor music festival. This type of semi-permanent retail is something DeepMagic has also worked on. More recently, it’s been reported that Amazon might license out its Go tech for similar type stores in cinemas and airports.

Though these NanoStores are easy to set up and run, Gu insisted that AiFi isn’t focused solely on those form factors, and that its technology scales up to larger store footprints as well.

While AiFi has been laying low — Gu said the company didn’t even announce the $11 million Series A round it closed in January of this year — it’s been busy lining up retail partners around the globe. AiFi has announced retail partnerships with the aforementioned Ahold Delhaize, Carrefour in France, Valora in Switzerland, and Żabka in Poland.

As we’ve said before, 2019 is turning into a transitional year for cashierless checkout. Startups providing the technology are maturing, and others in the space, such as Trigo, Grabango and Zippin, have all announced big retail partners this year.

With a total addressable market of, well, any retailer in the world, the cashierless checkout game is not a zero sum one. Lots of startups will get plenty of deals. The question for AiFi will be whether it gets a strategic investment from one of its retail partners like Trigo and Zippin did, and whether AiFi will be able to sign up new partners as fast as it will give you a receipt.

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