Investment aims to improve retailers' decision-making and sales

AI Startup Incubator's portfolio grows with AssetFloow and their new sensorless AI software that enables retailers to understand customers' behavior and movement in the store. AssetFloow's solution provides analysis, prediction, and workflow improvement, making current retailers' decision-making more efficient. Headquartered in Lisbon, Portugal, AssetFloow currently operates in Europe, plans to enter the Czech market, and expands its technology overseas.

AssetFloow is the first sensorless software that combines AI and game theory to develop a model of human behavior inside a store. Using anonymous sales data and the store layout, it can measure and analyze with high precision how different types of shoppers move and interact with products in a physical store.

80% of today's retail decision-making is based on gut instinct, experience, and spreadsheets rather than data. With the current approach, retailers use a "trial-and-error" method for layout changes and strategic promotions. Such operations take over three months and end up with up to 75% of incorrect decisions. This problem represents 30% of their revenue.

Sensor-based technologies, such as cameras, Wi-Fi, and Beacons, fail to provide insights directly correlated with sales data and raise privacy concerns. Other companies focus on providing heat maps without any context, leading to more data to analyze manually.

AssetFloow's AI software represents the solution for inefficient and lengthy decision-making of retailers. After winning 1st place in a Worldwide AI hackathon, AssetFloow proved that its technology could beat sensors or cameras, with a 94% accuracy, in analyzing the flow of people.

Leveraging AssetFloow's technology on decision-making processes allows retailers to increase sales by 2-4% by doing strategic listing, improve procurement conditions by decreasing its costs by 1-3%, and reduce working capital costs of Category Management from more than three months to less than a day.

"We combine our extensive retail knowledge and expertise with a passion for innovation, people, and enterprise software to help retailers build resilience and excellence. AI Startup Incubator's expertise in the field enables us to extend our reach and improve retailers' in-store operations towards higher productivity and profitability," says the CEO & Co-founder of AssetFloow, Katya Ivanova.

The advanced retail analytics market presents opportunities to companies such as AssetFloow, with expected growth from USD 4.3 Billion (2020) to USD 11.1 billion by 2025, at a CAGR of 21.2%, according to MarketsandMarkets.

AssetFloow already helps retailers across Europe, the UK, and plans to enter the Czech market. It partners with companies from Brazil and other South American countries, expanding its operations overseas. "With investment from AI Startup Incubator, we are certainly one step closer to becoming a market leader in retail behavioral analytics," adds Katya.

The legal framework of the transaction was managed by a law firm Kocián Šolc Balaštík, particularly by Josef Kříž and Ota Mach.