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Recoshelf

Empty shelves of retail dont sell, we prevent it

Ukraine, Kyiv city
Market: Logistics and warehouses, Food industry, Trade, Robotics, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 23.03.2022
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Idea

We empower retailers to sell more with computer vision
Recoshelf assists retail to control the products and customers behavior with smart cameras and IoT sensors to increase revenue up to 5-6%.

Current Status

Singe Aug 2021 we have a commercial agreement with a drug store chain of 800 shops, with our queue control solution we serve the first 12 shops, MRR is $500. For 800 shops it would be $40K. With large CIS beverages companies, we prepare a commercial agreement to serve 250k shelves with $250K MRR potential.

Few pilot projects are being implemented.

Market

Global PAM is $35B.
TAM is $3B
SAM is $1B

Problem or Opportunity

Retail’s empty shelves don't sell. Queues annoy. We prevent such situations by using computer vision to monitor products and people and increase revenue by 5-6%.
Global loss of retail are up to $1T globally due to out of shelf situation (OSA). This problem can’t be resolved by human operators as people don’t have an ability to constantly control the shelf and, appropriately, may hardly restock products in time. Instead, the machines do this job tirelessly.

Solution (product or service)

Recoshelf has developed an AI based system to prevent downtime of shelves, controls queues and inappropriate storage conditions. The digital model of the enterprise, which we build on the basis of neural networks, allows us to identify these and other problematic business processes in a timely manner and respond to them.

Competitors

TRAX is market leader. Other competiors are:
https://vispera.co/
https://www.traxretail.com/
https://planorama.com/
https://intrtl.com/
https://www.softservebs.com/uk/solutions-2/trade-marketing-efektivnij-merchendajzing/
https://shelfierobot.com/#howitworks
http://www.mysales-labs.com/
smartshelf.com
https://www.wiseshelf.com/
www.picsell.ai
Shelfmatch
https://www.observanow.com/

Advantages or differentiators

Our advantages are:
1. Little data for machine training
2. Low internal R&D costs
3. Light, affordable IoT camera
4.We don’t charge CAPEX to customers

Finance


We project up to 1mil revenue in 2022 due to the existing contract with 300K potential adding other customers we pilot with now.
Cost structure:
COGS 45,94%
G&A 8,91%
R&D 34,52%
Sales and Marketing 10,63%

Business model

Enterprise SAAS. We charge 10-40$ per camera per month.

Money will be spent on

COGS: 50%
R&D: 34%
Marketing and Sales: 10%

Offer for investor

10% of Estonian entity or convertible.

Team or Management

Risks

New technology invention
Monopolization by TRAX
Competition from large ERP/automation companies
Recession

Incubation/Acceleration programs accomplishment

Alchemist, Dec21-May 22
IoT Tribe Dec21-March 22
Demium and BuildIT accelerations in 2019-2020
Y incubator School in 2019-2020

Won the competition and other awards

1. National USF grant https://usf.com.ua/projects_catalog/
2. Startus "promising starups https://www.startus-insights.com/innovators-guide/discover-7-retail-startups-you-should-watch-in-2021/
3. Amazon award AWS AI CHALLENGE

Photos

Photo 1 - Empty shelves of retail dont sell, we prevent it
Photo 2 - Empty shelves of retail dont sell, we prevent it

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video