Switzerland-based computer vision startup Advertima raises $17.59M in Series A funding to transform retail stores into smart spaces

Imagine you walk into a store and are interested in buying a gift for a friend or loved one. You spent two minutes looking at the same item. Spending two minutes indicates you have some interest in the item you just looked at. What about if there is a way to share that information so they can better assist you? Enter Advertima, a St.Gallen, Switzerland-based tech startup and provider of a 3D computer vision platform.

Through computer vision, machine learning and artificial intelligence (AI), Advertima has created the ‘Human Data Layer’, which visually interprets human behavior in physical spaces. By providing a real-time and easily accessible data stream, Advertima gives the ability for the smart spaces of the future to interact with people in a seamless and meaningful way.

Today, Advertima announced it has closed $17.59 million (€15 million) in Series A funding to enable the four-year old startup to further develop their platform on a global scale and strengthen their position as a critical player in the wider ecosystem of the smart space environments. The round was led by existing shareholder Swiss real estate company, Fortimo Group.

Founded in 2016 by Iman Nahvi, Advertima empowers grocers and other retailers to create smart spaces that offer consumer-centric, frictionless and relevant in-store shopping experiences. Advertima visually interprets human behavior in the physical world, enabling smart spaces of the future to interact with people in seamless and meaningful ways. Their real-time and easily accessible data stream, called the ‘Human Data Layer’, powers their smart retail solutions, including Autonomous Store and Smart Signage.

Through computer vision, machine learning and artificial intelligence (AI), Advertima has created the ‘Human Data Layer’, which visually interprets human behaviour in physical spaces. By providing a real-time and easily accessible data stream, Advertima gives the ability for the smart spaces of the future to interact with people in a seamless and meaningful way.

The first sector that Advertima has set its sights on is grocery retail. In a fast-changing retail world that is quickly adapting to the impact of COVID-19, Advertima’s technology helps fast-track the evolution of grocery retailers. Advertima offers smart inventory management and autonomous checkout while also providing engaging and relevant content on smart digital screens throughout the in-store shopping journey of every customer. By making retail spaces smart, grocers maximise the efficiency of their stores, increase their revenues and generate greater returns per square meter.

Advertima’s smart retail portfolio has been developed with Switzerland’s largest retailer, Migros and the international grocer SPAR. The technology is already being used by 14 companies across eight different countries.

“It is clear that the rapid digitization 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.”

“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,” says Advertima Co-Founder and CEO Iman Nahvi. “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.”