Total amount raised
$87.1 Millions
Latest funding date
Location
AiFi has successfully raised $80 million over multiple funding rounds, with notable investors including Verizon Ventures, Qualcomm Ventures, and HP Tech Ventures. The company specializes in AI-driven autonomous shopping solutions, collaborating with global retailers such as ALDI South Group and Carrefour.
Keep reading to explore the intricacies of AiFi's fundraising journey and the investors backing this innovative platform.
What Is AiFi?
AiFi, founded in 2016, is a Santa Clara-based company specializing in AI and computer vision technologies for the retail sector. The company was established by Steve Gu and Ying Zheng.
With an employee count ranging from 101 to 250, AiFi offers a flexible AI platform that enables retailers to deploy and scale autonomous shopping solutions. Their technology leverages computer vision and advanced tracking algorithms to adapt to existing store formats without the need for shelf sensors.
AiFi's solutions are utilized by global retailers such as ALDI South Group, Carrefour, and Morrisons, among others. The company aims to transform real-world spaces into dynamic digital replicas, enhancing customer experiences and optimizing inventory management.
How Much Funding Has AiFi Raised?
- Seed Round
- Amount Raised: $4.4M
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their AI-driven autonomous shopping solutions.
- Series A
- Amount Raised: $11M
- Date: January 2019
- Lead Investors: Cervin Ventures, Translink Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their technology and scale their operations.
- Series B
- Amount Raised: $65M
- Date: March 2022
- Lead Investors: Khaira Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand AiFi's technical team and scale partnerships to meet growing demand.
- Venture Round
- Amount Raised: $6.7M
- Date: August 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale their autonomous shopping solutions and expand global reach.
Total Amount Raised: $87.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Qualcomm Ventures
- Details: Qualcomm Ventures is the investment arm of Qualcomm Incorporated, focusing on strategic investments in innovative technology companies. They aim to accelerate the development of the wireless ecosystem and related technologies.
- Investment Focus Areas: Wireless technology, AI, edge computing
- Notable Investments: Zoom, Waze, Xiaomi
- Verizon Ventures
- Details: Verizon Ventures is the venture capital arm of Verizon Communications, investing in promising technology startups. They focus on companies that can leverage Verizon's network and technology capabilities.
- Investment Focus Areas: Technology, telecommunications, digital media
- Notable Investments: Ring, DocuSign, BlueJeans
- HP Tech Ventures
- Details: HP Tech Ventures is the venture capital arm of HP Inc., investing in early-stage technology companies. They aim to foster innovation that aligns with HP's strategic interests.
- Investment Focus Areas: Technology, printing, computing solutions
- Notable Investments: Sprout, Carbon3D, Desktop Metal
- Cervin Ventures
- Details: Cervin Ventures is a venture capital firm that invests in early-stage technology companies. They focus on enterprise software and services that have the potential to disrupt existing markets.
- Investment Focus Areas: Enterprise software, SaaS, cloud computing
- Notable Investments: Punchh, Cyara, Nexla
- Translink Capital
- Details: Translink Capital is a venture capital firm that provides funding and strategic support to technology startups. They have strong connections in Asia, helping portfolio companies expand into Asian markets.
- Investment Focus Areas: Technology, consumer electronics, digital media
- Notable Investments: SoundHound, Moovit, Carbon
What's Next for AiFi?
AiFi stands at the cusp of significant growth opportunities, driven by the increasing demand for autonomous shopping solutions. With partnerships with major retailers like ALDI South Group, Carrefour, and Żabka Group, AiFi is poised to expand its technology across various retail formats, from grocery stores to sports stadiums. The company's camera-only solution, which reduces deployment costs and time, positions it well to capture a substantial market share.
Future fundraising opportunities appear promising, given the successful Series B round and the strategic interest from investors like Verizon Ventures and Qualcomm Ventures. As AiFi continues to scale its operations and enhance its AI algorithms, additional funding rounds could further accelerate its growth and technological advancements.
However, AiFi may face challenges such as maintaining the scalability and reliability of its technology across diverse store formats and staying ahead in a competitive market. Addressing privacy and security concerns associated with AI and computer vision technologies will also be crucial as the company navigates its expansion.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data on companies like AiFi and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
