Advertima: Swiss startup's AI-powered smart retail spaces
The company provides technology for smart retail spaces which in turn provide better shopping experiences. The company’s ‘Human Data Layer’ combines computer vision with machine learning and AI to interpret the way human’s use spaces and provide data.
For the grocery industry, the company’s solutions include smart inventory management and autonomous checkout with digital screens. It frames the ongoing COVID-19 pandemic and its effect on physical stores as further necessitating their digitisation.
In the press release, Advertima Co-Founder and CEO Iman Nahvi said: “We’ll be investing €25 million in the further development of our smart retail solutions over the next two years. €10 million of this investment will be financed by our own revenues so this €15 million round is a crucial milestone to help us achieve our vision for how the world will look by 2030.
“We see a world where the physical and digital layers are merged to enhance our daily professional and private lives. Advertima’s Human Data Layer will be one of the irreplaceable components in this whole ecosystem of applications and technologies that will build the foundation of our future lives.”
The company said it would use the funds to further develop its platform globally, while strengthening its position in the smart retail industry.
“It is clear that the rapid digitalisation of our society is going to have an impact on consumer habits, especially in the retail sector,” says Fortimo Group Founder Remo Bienz. “Advertima is at the cutting-edge of technology in the retail space. As a long-standing shareholder, we know how visionary their technology is, but also how it has been successfully adopted by major, global organisations and already generated significant revenues. We’re excited to be part of Advertima’s journey.”
1993 – Founding
Jensen Huang from AMD, and Chris Malachowsky and Curtis Priem from Sun Microsystems, saw a market to improve graphics performance with dedicated hardware. They sensed that computer games would become a huge market and set out with $40,000 to found Nvidia.
1993 – Funding
Having named the company after a file-naming system they had devised, the trio needed funding, which came in the shape of a $20 million venture capital round led by Sequoia Capital.
1998 – Breakthrough
Nvidia had some success but their breakthrough would come with the introduction of the RIVA TNT graphics adapter. The following year, the company released the GeForce 256, which had on-board transformation and lighting. The GeForce comfortably led competitors.
2000s – success
Nvidia won the contract to develop graphics hardware for Microsoft’s Xbox and would go on to provide similar services to Sony for the Playstation 3. A slew of acquisitions and awards made Nvidia a household name in graphics.
2020 – Cambridge-1
The benefits of using the awesome power of graphics hardware to process other data was not lost on Nvidia, which announced plans to build the Cambridge-1, the UK’s most powerful computer. The company’s future in AI hardware development is virtually secure.
Photo credit: Nvidia
Find out more
Caption. Credit: Getty/xxx