USD$9.5million capital raise set to fuel IMAGR's expansion
AUCKLAND, New Zealand, Jan. 22, 2020 /PRNewswire/ -- Shoppers are one step closer to skipping checkout queues forever with New Zealand technology start-up IMAGR raising USD$9.5m in its pre-series A funding round.
IMAGR is the creator of the SmartCart intelligent shopping trolley. Harnessing computer vision technology and AI, this queue-busting solution automates checkouts and payments for a frictionless shopping experience.
William Chomley, IMAGR CEO, says the funding was led by global industry giant Toshiba Tec Corporation.
"It's thrilling to be backed by an international point-of-sale leader like Toshiba Tec which owns 96 percent of the convenience market in Japan (FY2017 Shipment in Japan).
Its support of IMAGR shows we have the right technology in place to change how retail shopping is done across the world."
Masami Uchiyama, Toshiba Tec Senior Vice President, says they underwent a rigorous due diligence process before deciding to support IMAGR.
"We looked globally for the most promising automated checkout provider and settled on IMAGR as the most advanced technology of its kind."
"Its computer vision and AI technology is industry-leading, outperforming other AI retail systems we have seen, and the integration into existing stores is simple and scalable. We can't wait to see IMAGR change the retail industry in the 2020s."
The funding round was also backed by Sage Capital and Harald McPike, both existing IMAGR shareholders.
Chomley says: "We were overwhelmed with support during this capital raise, with an over subscription nearly doubling the amount we initially set out for."
Next year, IMAGR's SmartCarts will launch in Japan with H2O RETAILING CORPORATION and in New Zealand with Farro Fresh.
Chomley says the funding from the capital raise will benefit execution in the Japanese and New Zealand markets, as well further international expansion.
"Since starting up in 2017 we've experienced rapid expansion, as well as interest and commitment for our product. We've always had a simple goal: to make it easier for people around the world to shop. This funding will allow us to accelerate our plans, ensuring more people will be skipping queues by utilising our SmartCarts in 2020 and beyond."
About IMAGR
IMAGR is a retail technology start-up based in Auckland, New Zealand. It was founded in 2017 by William Chomley and the company has since gone from strength to strength.
IMAGR is the creator of the SmartCart, a checkout-less shopping experience which is made possible through computer vision technology. SmartCart's contain four cameras, coupled with the world's most powerful AI vision recognition system. As a result, SmartCart knows what a customer puts in, or removes from, their carts. Self-contained in a robust trolley which is visually indistinguishable from a regular shopping cart, the cameras examine, recognise and account for goods as they are added or removed.
About Toshiba Tec
The Toshiba Tec Group, the worldwide leading brand in the retail market aims to be a company that can continually provide the best solutions to customers, which include the retail, food and beverage industries, as well as logistics, manufacturing industries, and offices. Their Group conduct business operations in over 100 countries and regions.
Rather than continue as an extension of the past, they are actively striving to anticipate ever-changing market needs by looking at ways to enhance our creativity and adaptability, thereby enabling a swift response to these changes. By providing solutions that are one step ahead to all the customers, and endeavour to contribute to the realization of a better society.
View original content:http://www.prnewswire.com/news-releases/kiwi-automated-checkout-start-up-imagr-announces-backing-from-global-technology-heavy-weight-300990837.html
SOURCE Imagr
See more here:
- Global Automotive In-Cabin 3D Sensing Technology Market Report 2021: Market Penetration for Level 2 Cars and Expected Market Penetration for Level 3... - March 3rd, 2021
- Security Technology Strategies at the Core of Business Operations - SecurityInfoWatch - March 3rd, 2021
- CoSN2021: Technology in the Classroom Promotes Equity in Education - EdTech Magazine: Focus on K-12 - March 3rd, 2021
- Lumen Technologies to present at the Morgan Stanley 2021 Technology, Media and Telecom Conference - The Grand Junction Daily Sentinel - March 3rd, 2021
- Here's the Technology Government Needs in 2021 - Government Technology - March 3rd, 2021
- How criminal investigations have evolved along with technology - THV11.com KTHV - March 3rd, 2021
- Chatbots that resurrect the dead: legal experts weigh in on disturbing technology - The Next Web - March 3rd, 2021
- How technology can help us achieve at least 30% ocean protection (commentary) - Mongabay.com - March 3rd, 2021
- Recovering from the SolarWinds hack could take 18 months - MIT Technology Review - March 3rd, 2021
- Leading facial recognition technology provider Corsight AI announces expansion into the Asia Pacific region - PR Newswire India - March 3rd, 2021
- Microchip Technology Announces Changes to Its Board of Directors - GlobeNewswire - March 3rd, 2021
- Parallel Flight Technologies to Participate in the Federal Aviation Administration's BEYOND Program - PRNewswire - March 3rd, 2021
- Bryce Space and Technology Rebrands to BryceTech - Via Satellite - March 3rd, 2021
- Artificial Intelligence Technology Solutions Announces Executive Team Expansion - Business Wire - March 3rd, 2021
- Unifrax, Backed by Clearlake Capital, Announces Lithium Ion Battery Anode Technology Coming Early Next Year - Business Wire - March 3rd, 2021
- How beers and Vikings gave Bluetooth technology its name - Yahoo Finance Australia - March 3rd, 2021
- Exro Technologies Inc. - Integrity Statement from the CEO - Yahoo Finance - March 3rd, 2021
- Relivion Wearable Brain Neuromodulation Technology Cleared by FDA for the Treatment of Migraine - Business Wire - March 3rd, 2021
- China eyes next-generation chip technology to take on global rivals - The Japan Times - March 3rd, 2021
- Need a break from technology? Participate in a National Day of Unplugging scavenger hunt - SILive.com - March 3rd, 2021
- Horizon Technology Finance Announces Fourth Quarter and Full Year 2020 Financial Results - PRNewswire - March 3rd, 2021
- Gary Wojtaszek, Former CEO of $12 Billion Data Center Technology REIT CyrusOne, to Join Quantum Loophole Executive Board - Business Wire - March 3rd, 2021
- Elys Game Technology Comments on the Status of Legislation to Legalize Single Event Sports Betting in Canada - Business Wire - March 3rd, 2021
- U.S. to Impose Sweeping Rule Aimed at China Technology Threats - The Wall Street Journal - February 27th, 2021
- What Technology Would Catch Your Eye If You Won the Lottery? - Drovers Magazine - February 27th, 2021
- Technology Landscape, Trends and Opportunities in the Global Motion Sensor Market, 2021 Report - ResearchAndMarkets.com - Yahoo Finance - February 27th, 2021
- Learning from history: How forward-thinking legal professionals approach technology - JD Supra - February 27th, 2021
- Farm-Tested Technology a Win for Grower and Startup - Agweb Powered by Farm Journal - February 27th, 2021
- Facebook is 'looking at' facial recognition technology for upcoming smart glasses, executive confirms - CNBC - February 27th, 2021
- Leveraging Technology to Manage Big Data in Antitrust - JD Supra - February 27th, 2021
- KULR Technology forms partnership with the CSA Group to develop a new battery safety standards - Proactive Investors USA & Canada - February 27th, 2021
- AMSE and Dept. of Energy partner to teach history of technology and science in Oak Ridge - WBIR.com - February 27th, 2021
- Camp Hill-based company to use partnership to develop technology platforms for client institutions - PennLive - February 27th, 2021
- Integrating nature with technology to strengthen climate adaptation - Daily Planet` - February 27th, 2021
- Proposals to meet global challenges in artificial intelligence and technology regulation - Brookings Institution - February 27th, 2021
- Is Technology Changing The Real Estate Industry? - BOSS Magazine - February 27th, 2021
- Engineering student's technology could revolutionize the use of drones - University of Miami - University of Miami - February 27th, 2021
- Ideas, technology and a fire in the gut fuel young entrepreneurs - Jacksonville Daily Record - February 27th, 2021
- Technology and Art of Light in the Spotlight: Artists from around the World Gather at Shenzhen International Light Art Forum - PRNewswire - February 27th, 2021
- Chevron launches $300 million fund to focus on low-carbon technology - Reuters - February 27th, 2021
- Sweden's KTH Royal Institute of Technology Selects Hewlett Packard Enterprise to Build New Supercomputer to Advance Academic and Industrial Research -... - February 27th, 2021
- 10 Information Technology Stocks With Unusual Options Alerts In Today's Session - Yahoo Finance - February 27th, 2021
- Dots and Bridges Launches New YouTube Channel to the Highlight the Technology, Humanity and Culture Intersection - Business Wire - February 27th, 2021
- Desert Storm attack pilot integrates 30-years of tactics with new technology - Robins Rev Up - February 27th, 2021
- The Pellicano Hotels Group Selects Lybra as a Preferred Technology Partner, Implementing Lybra's Assistant RMS in all 3 of Their Luxury Properties in... - February 27th, 2021
- Is It Time To Consider Buying Amkor Technology, Inc. (NASDAQ:AMKR)? - Yahoo Finance - February 27th, 2021
- 10 Breakthrough Technologies 2021 - MIT Technology Review - February 25th, 2021
- New Year, New Technology Priorities - Ward and Smith, PA - February 25th, 2021
- Technology and Innovation Report 2021 - UNCTAD - February 25th, 2021
- Wearable Technology Market Expected to Exceed $74 Billion By 2026 As Wellness Craze Kicks into High Gear - PRNewswire - February 25th, 2021
- OneConnect Financial Technology and Singapore Exchange collaborate to address the region's ESG reporting needs - PRNewswire - February 25th, 2021
- GRAPHISOFT Empowers Mission of 400 Forward as Official Software and Technology Partner - PRNewswire - February 25th, 2021
- Taking future wireless technology from science fiction to scientific reality - Penn State News - February 25th, 2021
- CRN Names BetterWorld Technology to 2021 MSP 500 List in the Pioneer 250 Category - PRNewswire - February 25th, 2021
- GSCW chat recap: Naeem Zafar on using technology to feed the world - FreightWaves - February 25th, 2021
- What Old Technology Do You Think Is Cool? - The New York Times - February 25th, 2021
- New brain scan technology hopes to help people recover from addiction - WBIR.com - February 25th, 2021
- How Technology Will Fuel the COVID-19 Vaccine Administration - Healthcare IT News - February 25th, 2021
- Rackspace Technology Named Cloudflare Worldwide MSP Partner of the Year - GlobeNewswire - February 25th, 2021
- Lattice and Future Electronics Collaborate on Virtual Technology Sessions for Machine Learning/AI, Embedded Vision, and Secure System Control -... - February 25th, 2021
- Baldwin-Whitehall's Peretin named Technology Administrator of the Year - TribLIVE - February 25th, 2021
- Christian Poellabauer appointed to lead new Applied Analytics and Emerging Technology Lab at Notre Dame - ND Newswire - February 25th, 2021
- The 6th Wave of Advertising Technology: Privacy - AdExchanger - February 25th, 2021
- Global Hydrogen Aircraft Market and Technology Forecast to 2029 - Featuring BAE Systems, Bell Helicopter and Boeing Among Others -... - February 25th, 2021
- Northern Refrigerated Transportation Adds SmartDrive Video-Based Safety to Technology Suite - Business Wire - February 25th, 2021
- How Nanoemulsion Technology Is Drastically Affecting the Food & Beverage Industry - PRNewswire - February 25th, 2021
- AI could have profound effect on way GCHQ works, says director - The Guardian - February 25th, 2021
- Analog Devices, University of Limerick and Stripe Collaborate to Leverage Software Technology for the Transformation of Engineering Education -... - February 25th, 2021
- Adhesive Tapes Market Research Report by Resin Type, by Technology, by Backing Material, by Category, by End-use Industry - Global Forecast to 2025 -... - February 25th, 2021
- NUBURU Establishes Advisory Board of Seasoned Technology Experts - Business Wire - February 25th, 2021
- Joby Aviation to List on NYSE Through Merger With Reinvent Technology Partners - Business Wire - February 25th, 2021
- The U.S. Needs a Federal Department of Science and Technology - Scientific American - February 21st, 2021
- Treasure hunting with technology add geocaching to your outdoor activities during COVID-19 - ABC27 - February 21st, 2021
- AIM Institute Offers Free Introduction to Technology Course to Demystify IT - kneb.com - February 21st, 2021
- SAG-AFTRA Leaders Explore Promises & Threats Of New Technologies And Their Impact On Residuals Labor Innovation & Technology Summit -... - February 21st, 2021
- Mobilaris & Lule University of Technology working together to improve AI-based positioning in mining - International Mining - February 21st, 2021
- Apple is already working on developing 6G wireless technology - Ars Technica - February 21st, 2021
- Local buses equipped with technology said to remove 99.9% of COVID-19 from air - WTAE Pittsburgh - February 21st, 2021
- Why Osprey Technology Acquisition Stock Popped Again Today - Motley Fool - February 21st, 2021
- Meet College of Health Sciences and Technology Dean Yong 'Tai' Wang - RIT University News Services - February 21st, 2021