Kevin Butz | Unsplash
We may have heard about the new contactless stores. Yes, these are stores where one can make purchases without human intervention, as everything is automated in such a way that the buying process is streamlined. This idea has been expanding and now several companies are taking the initiative to build this model under their brand.
From sensei.tech
How do these stores work?
It involves the use of the world's most advanced cutting-edge technology. It uses AI and computer vision with machine learning through sensors located everywhere. By simply registering entry through the store's app upon entering, it starts counting the products we add or remove. This allows all products we put in the cart to be tallied by their corresponding value, to then leave the premises and have a receipt printed in our app. This is at least how Amazon Go operates, but it is not far off from other companies implementing it.
Amazon Go seems to be the pioneer in using this technology. In my case, the first time I saw something like this was with Carrefour Flash, which uses camera-based technology that also incorporates sensors. As mentioned earlier, other companies are also adopting this type of technology (the way it is implemented may vary).
Sensei; has become a competitor with great potential
A Portuguese startup called Sensei has raised an incredible $16.2 million in funding after a Series A round led by BlueCrow Capital. The basic idea is essentially the same. A store with artificial vision and sensors guided by artificial intelligence to count the items we put in the cart and the payment system generates a total payment when exiting.
The significance of Sensei's vision is that they hope new companies will adopt the technology they are developing, especially in the retail sector. In this scenario, investments mean more resources to be allocated to research and development of technologies applied to emerging companies. Another important aspect is the intention to compete with market giants like Amazon.
As a background in funding, the same company had previously received a financing of $6.5 million after a round led by Seaya Ventures and Iberis Capital.
2026 seems to be the year when objectives will be met abundantly. Portugal maintains a fresh and enthusiastic stance regarding this new market. It is expected that by that year, Sensei will have 1,000 automated points of sale, with plans to expand to the central and northern regions of Europe. Currently, they are active with clients from countries such as Portugal (obviously), Spain, France, Italy, and Brazil.
From sensei.tech
Funding competition
Speaking of competition, it is becoming immense as they have also received significant funding. For example, startups like Standard Cognition have raised a total of $240 million. On the other hand, Trigo, with $200 million. Below the $100 million mark, we find Grabango, which accumulated $94 million, and AiFi with $87 million. Lastly, Zippin, acquiring funding of $44 million.
With this in mind, I believe the expansion of this technology and its implementation in the retail sector will be exponentially significant for the future. I just hope that this future remains optional, meaning we still have the opportunity to socialize in a neighborhood store as we have done all this time. Nevertheless, we must give this novelty that is surprising everyone a chance.
- Main image edited in Canva.
- I have consulted information at techcrunch.com.
- Translated from Spanish to English with Hive Translator.