Retailtech Hub: Startups from Batch 6 on the starting blocks
At the Retailtech Hub, eleven startups from the now sixth batch have started the Focus Week. This means it’s time for the participants to get down to work at a series of workshops, meetings and networking events. Let’s find out more about them.
The startups’ variety of ideas is enormous. They include a smart locker service, styling advice to help customers choose new outfits, and a revolutionary product presentation system. Moreover, artificial intelligence is used to optimize energy consumption, design smart cities, and analyse customer behaviour.
Eleven startups have qualified for the three-month programme. The sixth batch will once again officially conclude with an Expo Day on 1 July in Munich. Startups from various batches which have already initiated and/or completed successful pilot projects will share their findings and results at this public event for partners, investors and interested parties.
MediaMarktSaturn is continuing its role as a key partner of the Retailtech Hub alongside wirecard, VISA, s’Oliver, Kaufland and Lidl, and working with selected startups to launch new pilot projects.
With the Batch 6 startups now commencing work, meanwhile startups for Batch 7 introduced themselves on Selection Day at the Retailtech Hub at the end of January. Another Selection Day will take place at the end of April, after which startups will be selected for the next batch – and once again, you’ll be able to find out more about them here.
But first of all, allow us to introduce all the startups making up the sixth batch:
7LYTIX harnesses the new opportunities of artificial intelligence for any industry. According to 7LYTIX, the key to success is data. Using self-learning technologies which for example analyse all the available data in a company on the basis of machine learning, previously hidden potential is revealed. The results are used to produce accurate forecasts for sales, purchasing, marketing, product development and manufacturing. The aims are to reduce costs and increase profits.
Active Energy uses AI and IoT technologies to analyse and significantly reduce energy consumption, while delivering energy to the consumer at cost price. By using machine learning algorithms based on highly accurate data, electricity costs can be reduced by up to 25 per cent annually.
Bagaj is a smart locker service operated using an app. Lockers are to be installed at places such as city centres, concert halls and beaches, and used to store personal belongings. They can also be used to collect parcels.
Cognigy.AI promises conversations with chatbots that seem as natural as communicating with real people. The startup plans to take voice control to a new level with its intelligent chatbots and voice assistants. Cognigy AI software enables businesses to establish cross-channel dialogue between humans and machines. The key advantages of this new form of intelligent communication are that it is constantly available, increases reach and saves costs.
Geospin helps to make smart cities reality. The software develops self-learning algorithms that recognize the hidden patterns and connections of a city. This enables future developments to be predicted on the basis of data. The software provides answers to questions like: How should future mobility concepts be established and coordinated in a city? What location is suitable for a new branch? Where are customers – and when are they there? And how will property rents develop?
Intelistyle helps retailers meet the needs of customers seeking personalized styling advice by means of AI. Users can use the app to take a photo of any item of clothing and then receive outfit recommendations either from their own wardrobe or from participating retailers.
Lizee reports that the retail sector is one of the most polluting industries in the world. The startup therefore wants to enable retailers to save resources by reusing products. Lizee helps its customers to find the right rental model for each product.
LocalUp handles the automation of location-based online marketing on Facebook, Instagram and Google Ads for clients such as Coca Cola, Skoda and Adticket.
Magnwall is a revolutionary product presentation system for retail design, galleries, exhibitions, smart homes and commercial premises, etc. It’s the first company in the world to develop fully electrified display systems. The system allows screens, lights and other electrical devices to be powered without power cables, sockets or batteries.
Placense delivers insights into customers’ behaviour. It provides metrics such as customer visits, visit duration, visit frequency, customers’ travel distances, gender, age groups, income levels, modes of transport, and other related demographic characteristics. As a result, retailers, digital advertisers, town planners and developers are empowered to make smarter, more effective decisions.
Udentify is an AI-powered platform that allows businesses to optimize the customer experience and boost profits by providing information such as square metre efficiency, product conversion rate and employee performance.