Tiliter, a UNSW startup, has raised $7.5 million in a Series A round of funding led by Investec (Australia), as more supermarkets embrace the artificial intelligence that enables customers to check out without needing to scan items.
By modestly retrofitting existing checkouts, Tiliter has created a hardware and software system that automatically identifies items, such as fresh produce, without the need for barcodes, packaging and price stickers, making it easier for shoppers to self-checkout.
Tiliter founders, Marcel Herz, Martin Karafilis and Christopher Sampson, realised their dream whilst undertaking their masters at UNSW, and decided they wanted to start their own business in the growing field of computer vision.
To fast-track their scalable idea, the entrepreneurs were accepted into UNSW Founders’ flagship program, 10x Accelerator, where they were able to explore global opportunities and secure initial funding. After attending the 2018 10x program, as part of the second cohort, the Tiliter team went on to become Founders in Residence at UNSW and have been expanding ever since, now, they have over 20 employees in offices across Australia, New Zealand, United States and Germany.
Tiliter's computer vision technology is currently used in 20 Woolworths supermarkets in Australia, and has plans set for global adoption. Tiliter aims to have its technology in use in more than 1,000 supermarkets within the next 18 months, particularly targeting the US where the demand for the technology has skyrocketed.
Retailers are pushing for innovation in order to improve instore customer safety while COVID-19 challenges continue. The Series A funding will help accelerate expansion plans, with many stores expected to adopt the technology over the coming months.
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