Reckon.ai attracts investment of €5.1 million in US expansion

The Porto-based smart retail tech startup Reckon.ai has attracted investment of €5.1 million to help its international expansion drive.

It aims to set up smart micro-shops in the US – meaning shops or spaces that sell products from smart vendor machines – and extend its activity to new segments of the market.

“At Reckon.ai, our mission is to redefine the way consumers interact with shopping, making it simpler, intuitive and practical.

This investment marks a decisive moment for the company as it begins its global expansion and continued focus on technology innovation. We’re very excited about taking the future of retail to more places and sectors, enabling companies and surprising consumers”, said Ana Pinto, CEO of Reckon.ai in a communiqué.

With this round — led by Iberis Capital, with the participation of Alea and Touro — the capital already raised by the startup rises to €8.5 million. With this capital injection, Reckon.ai intends to expand its solutions to new market segments, such as pharmaceuticals, cosmetics and electronics, and “strengthen its presence in strategic European markets and leverage activity in the United States,” it said.

Currently, the startup operates in more than ten markets, such as Spain, France, Germany, Belgium, the Netherlands and the United Kingdom.

The startup has developed smart food, drink and other dispenser machines using AI and computer vision to provide shoppers with a unique experience without human interaction.

Reckon.AI’s technology is currently used by large retailers such as Jerónimo Martins (Pingo Doce), Carrefour, and Sonae (Continente), IKEA, Rewe, Lekkerland and Petit Forestier, among others.