Veesion successfully raised €38 million in a Series B funding round to expand internationally, particularly into the U.S. market, with a focus on combating retail theft using its innovative AI technology.

Information on the Target

Veesion, a pioneering French company established in 2018, specializes in artificial intelligence (AI) technology designed to recognize and analyze in-store gestures to combat retail theft. Founded by Thibault David, Benoît Koenig, and Damien Ménigaux, Veesion has developed the world’s first AI capable of identifying suspicious behavior without relying on facial recognition or biometric analysis. This innovative approach allows retailers to mitigate theft effectively while maintaining ethical standards concerning customer privacy.

The company's technology is engineered for ease of use, requiring no additional hardware installation, allowing for rapid integration into any retail environment, and enabling real-time alerts via a mobile application. By focusing on gestures rather than identities, Veesion offers a unique solution tailored to retailers that combines cutting-edge AI with immediate operational efficiency and robust personal data protection.

Industry Overview in the Target’s Specific Country

The retail industry in France faces significant challenges, most notably from in-store theft, which is estimated to cost approximately €5 billion annually. Such losses directly affect profit margins, ultimately leading to in