VisioLab, a provider of AI checkout technology, announced an $11M Series A funding round. The raise was co-led by European venture firms eCAPITAL Entrepreneurial Partners and Simon Capital. Other participants included High-Tech Gründerfonds, zwei.7, and Heartfelt.
Company co-founder & CEO Iwo Gernemann told SBJ that most of this fundraising will be injected into its U.S. efforts, which have grown in the arena and stadium space over the last year. Most recently, VisioLab deployed 30 of its units, which feature an iPad and a lightweight unit that can be set up on any surface for AI-powered product recognition and checkout, at Inter Miami’s Nu Stadium, which opened earlier this month.
“The units -- you can set them up in five minutes,” said Gernemann, who noted that VisioLab’s software comes preloaded on the iPad and fits its quick assembly setup. “... It’s super easy and straightforward.”
It also expanded its footprint at the Magic’s Kia Center -- there are now 43 VisioLab checkouts there -- and counts Mercedes-Benz Stadium, T-Mobile Arena and Grand Casino Arena among its client base.
As of late, the company has boosted its software by adding payment-handling abilities to its checkout process, streamlining the experience for clients and users. VisioLab was founded in Germany and maintains a headquarters in the country, along with a U.S. office in Boston.
