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 environment where contactless solutions are highly preferred. This shift presents substantial opportunities for startups like Reckon.ai, which are at the forefront of integrating technology into everyday shopping experiences.

The grocery and convenience store segments are increasingly adopting smart solutions to enhance customer engagement and operational efficiency. Major retailers in Portugal, such as Jerónimo Martins and Sonae, are already integrating advanced technology to streamline their operations, which illustrates a robust market for automated shopping solutions.

Moreover, with globalization and the rise of e-commerce, traditional retail models are evolving. The introduction of AI and automation aligns perfectly with consumer preferences for convenience, speed, and minimal interaction. As Reckon.ai expands its operations internationally, it stands to benefit from these trends not only in Portugal but across European markets and beyond.

Overall, the Portuguese retail industry is poised for growth as it embraces innovative technologies. The ongoing investment in smart solutions indicates a significant shift towards enhancing the shopping experience through automation, which positions Reckon.ai strategically within this booming market.

Rationale Behind the Deal

The recent funding round, in which Reckon.ai raised €5.1 million led by Iberis Capital—with contributions from Alea and Touro—marks a critical step toward scaling its operations and enhancing its offerings. This investment will facilitate international market entry and bolster the company's goal to innovate further within the retail technology space. Enhancing the features of its smart cabinets aligns with the growing consumer demand for more autonomous shopping experiences.

Additionally, the growing interest from major retailers highlights the strategic importance of development in this sector. By securing this funding, Reckon.ai is positioned to expand its footprint in key European markets and penetrate new segments, ultimately driving long-term growth and innovation.

Investor Overview

Iberis Capital is a prominent private equity and venture capital firm in Portugal, founded in 2017, with more than €600 million in assets under management. Known for its collaborative approach, Iberis works closely with founders and investors to create sustainable long-term value. Their confidence in Reckon.ai reflects a strategic commitment to technology-driven businesses that have a strong potential for growth.

Alea Capital Partners focuses on identifying structural gaps and macro trends in the market. Their investment, made via the Alea Innovation One FCR fund, signifies a belief in Reckon.ai's potential, particularly in its capacity to innovate within the retail sector. Touro Capital Partners, also a participant in the funding round, specializes in early-stage technology investments and complements the expertise brought by its co-investors in supporting high-potential companies.

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The investment in Reckon.ai appears to be a prudent choice given the increasing demand for innovative retail solutions. The company’s highly scalable technology offers a compelling value proposition that is well-aligned with market trends favoring automation and convenience in shopping. With its track record of success and plans for further innovation, there is significant potential for Reckon.ai to capture a larger market share as it enters new sectors.

Furthermore, the strategic support from experienced investors like Iberis, Alea, and Touro amplifies Reckon.ai's capabilities, setting the stage for fruitful international expansion. Their complementary approaches and emphasis on scalable technology enhance the startup's prospects, making it a compelling opportunity for future growth.

Moreover, Reckon.ai's established partnerships with leading retailers suggest that its technology is not just innovative but also practical and market-ready. Given the clear path for expansion and the consistent interest from large retailers, this investment could unlock significant value in the coming years.

Overall, Reckon.ai stands at the intersection of technology and retail innovation, making it a strong candidate for substantial growth. This funding round not only supports the firm's ambitions but also positions it strategically within a dynamic and evolving market landscape.

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Iberis Capital

invested in

Reckon.ai

in 2025

in a Series A deal

Disclosed details

Transaction Size: $6M

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