AiFi plans to use the funds to expand its technical team. Here are the top-line bullets you need to know.
AiFi, a provider of AI-driven retail solutions, has raised $65M in a Series B that drew participation from Aldi, HP Tech Ventures, and Verizon Ventures, among others.
How’s the company performing?
- California-based AiFi helps retailers and brands automate store operations, including checkout.
- The company works with global retailers like Carrefour, Compass Group, ALDI South Group, and Morrisons.
- AiFi has recently expanded to produce stores for music festivals and NFL stadiums, reducing average transaction and queue wait time by 50%.
- It recently partnered with Carrefour in France to launch a 10/10 Flash concept store, powered one of the largest contact-free markets with ALDI South Group in London, and deployed 28 Żabka Nano autonomous stores across Europe.
Why does the market matter?
- The global AI-powered checkout market is expected to reach a value of $1.2B by 2027, growing at a CAGR of 37.2%, according to The Insight Partners.
- The rising digitization of retail stores has contributed to market growth.
- The demand for contactless checkout options has increased amid the pandemic, compelling retailers to turn to AI-powered checkout solutions.
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