Reckon.ai, a Portuguese startup innovating in autonomous retail solutions, raised €5.1 million to enhance its smart cabinets and accelerate international expansion.

Target Overview

Reckon.ai, a startup located in Porto, Portugal, specializes in smart cabinets that utilize artificial intelligence and computer vision to create a checkout-free shopping experience. With a total investment exceeding €8 million, the company has developed innovative technology that transforms standard cabinets, fridges, and shelves into intelligent micro-stores, allowing consumers to shop autonomously without needing to go through a traditional checkout process.

Founded in 2017, Reckon.ai aims to revolutionize the retail landscape by initially focusing on grocery stores and expanding into other sectors such as pharmaceuticals, cosmetics, and electronics. Their smart cabinets can be accessed through a proprietary app, the host client’s app, or by tapping a debit or credit card, ensuring a seamless shopping experience that caters to the evolving demands of consumers.

Industry Overview in Portugal

Portugal's retail sector has been undergoing a significant transformation, particularly with the advent of technology-driven innovations. The demand for automation in retail has escalated, especially in a post-pandemic env