look out amazon go — a lisbon startup plans to offer autonomous stores to other retailers
Sensei Aims to Democratize Autonomous Store Technology
A new competitor is emerging in the autonomous retail space. Sensei, a startup headquartered in Lisbon, is developing technology designed to bring cashier-less shopping experiences to a wider range of retailers.
Seed Funding Secured
The company has recently closed a seed funding round, raising $6.5 million (€5.4 million). This investment was spearheaded by Seaya Ventures and Iberis Capital, with additional support from 200M Fund.
Platform Capabilities
Sensei’s core offering is a proprietary platform that leverages a combination of cameras, sensors, and artificial intelligence. This technology is applicable to both newly constructed stores and existing retail locations.
The system enables retailers to monitor inventory levels in real-time. Furthermore, it provides valuable data regarding customer behavior and store usage patterns.
CEO Statement
According to Vasco Portugal, CEO and co-founder of Sensei, the technology is intended to empower retailers. He stated that Sensei’s innovation will assist in creating a more competitive landscape against large digital retailers like Amazon.
Portugal emphasized the goal of improving the customer shopping experience, making it more seamless, convenient, and safe.
Target Retail Formats
Sensei’s solution is particularly well-suited for grab-and-go stores, forecourts, and comparable retail environments. The company acknowledges competition from firms like Trigo, which has secured $89 million in funding.
Benefits Highlighted
The advantages of automated stores have become increasingly apparent, especially in light of recent global health concerns. Eliminating checkout queues enhances customer safety and efficiency.
Retailers also benefit from reduced instances of stock-outs, and staff can transition to roles focused on customer support.
Investor Perspectives
Aris Xenofontos, principal at Seaya Ventures, expressed enthusiasm for investing in a company driving the digitalization of commerce. He noted the accelerated trend towards digital retail solutions.
Luis Quaresma, partner at Iberis Capital, highlighted the efficiencies and cost-savings that Sensei delivers to the retail industry. He also emphasized the improved checkout experience for consumers.
Founding Team
Sensei was founded by a team of experienced professionals: Vasco Portugal (CEO, formerly of MIT), Joana Rafael (COO), Nuno Moutinho (CTO), and Paulo Carreira (CSO).
The company plans to utilize the new funding to expand its research and development efforts and to facilitate the launch of additional stores.
Mike Butcher
Mike Butcher: A Profile of a Leading Tech Voice
Mike Butcher, M.B.E., is a highly respected figure in the technology landscape. Previously serving as Editor-at-large for TechCrunch, his journalistic background includes contributions to prominent UK newspapers and magazines.
Recognition and Influence
Wired UK has recognized Butcher as one of the most influential individuals shaping European technology. This acknowledgement underscores his significant impact on the sector.
Speaking Engagements and Interviews
He is a frequent speaker at globally recognized events. These include the World Economic Forum, Web Summit, and DLD conferences.
Butcher’s interviewing experience is extensive and notable. He has engaged in conversations with prominent figures such as Tony Blair, Dmitry Medvedev, Kevin Spacey, Lily Cole, Pavel Durov, and Jimmy Wales.
Broadcasting and Advisory Roles
As a regular media commentator, Mike Butcher frequently appears on major news networks. These include BBC News, Sky News, CNBC, Channel 4, Al Jazeera, and Bloomberg.
His expertise is also sought by governmental bodies. He has provided advice to UK Prime Ministers and the Mayor of London regarding policies related to tech startups.
Additional Roles and Honors
Butcher has also served as a judge on the popular television show, The Apprentice UK.
GQ magazine once included him in their list of the 100 Most Connected Men in the UK, highlighting his extensive network.
Founding Initiatives
He is the co-founder of several impactful organizations:
- TheEuropas.com: A platform showcasing the top 100 European startups.
- Techfugees.com: A non-profit organization focused on supporting refugees through technology.
- TechVets.co: A non-profit dedicated to assisting veterans with technology skills and careers.
- Startup Coalition: An organization fostering collaboration within the startup ecosystem.
MBE Award
In 2016, Mike Butcher was awarded a Member of the Order of the British Empire (MBE) in the Queen’s Birthday Honours list. This honor recognized his contributions to both the UK technology industry and the field of journalism.