Scandit Acquires MarketLab to Increase AR & AI Retail Options

September 11, 2024 – Scandit, a supplier of good information seize options, has not too long ago introduced the asset acquisition of shelf audit automation expertise from MarketLab, a Polish picture recognition and AI software program firm specializing within the retail trade. As a part of the transaction, MarketLab’s staff will be a part of Scandit to construct and develop a brand new providing.

Scandit acknowledged that the acquisition will assist to strengthen its ‘ShelfView’ shelf administration and analytics resolution, which leverages object recognition, augmented actuality (AR), and different superior pc imaginative and prescient expertise to course of photos for extra clever and environment friendly retailer operations.

MarketLab’s ‘SmartEye’ resolution is a cloud-based expertise that robotically analyzes photos from mounted retailer cameras to assist monitor retailer cabinets. It really works by evaluating the merchandise on the cabinets to a planogram – a information utilized by retailers to point product placement on cabinets with a view to maximize gross sales.

MarketLab’s experience in mounted digicam options will now complement Scandit’s current ShelfView cellular seize strategy to supply a hybrid information seize shelf intelligence resolution for retailers.

In line with Scandit, this new hybrid resolution will allow retailers to realize insights into on-shelf availability, compliance with planograms, pricing points, and extra. The answer may even present AI-enabled notifications to enhance retailer key efficiency indicators and flag points in near-real time to retailer associates and administration.

“The acquisition marks a brand new milestone in Scandit’s evolution as we proceed to broaden our good information seize capabilities for the broader retail trade. Integrating MarketLab’s mounted camera-based shelf recognition expertise and expertise into ShelfView strengthens our capability to empower retailers to reinforce their total retailer efficiency, enhance retailer affiliate effectivity, and optimize the monetization of shelf information with CPG companions,” mentioned Samuel Mueller, CEO and co-founder of Scandit.

“We’re delighted to affix forces with Scandit. Combining our complementary applied sciences, we look ahead to delivering further worth, ROI, and insights to grocery retailers globally to allow them to profit from elevated visibility into their cabinets, guarantee correct inventory availability, and finally improve the client expertise,” mentioned Piotr Wardaszko, CEO of MarketLab.

Scandit famous that cellular seize through smartphones or handheld computer systems is definitely deployable because it makes use of current units, might be tailored to totally different retailer environments, and might be scaled shortly. The addition of mounted cameras to its resolution will present steady excessive frequency information seize for near-real-time shelf monitoring whereas releasing up retailer associates to commit their time to higher-value duties equivalent to buyer engagement.

Scandit added that the acquisition of MarketLab alerts a brand new section of progress for the corporate, and in addition opens new routes to market by offering insights to client packaged items (CPGs) and merchandising companies. Past the retail sector, Scandit acknowledged that it sees future potential in mounted digicam deployments throughout different environments equivalent to warehousing to automate logistics workflows.

The announcement follows a USD $150 million Series D investment in 2022, which helped Scandit to speed up its R&D efforts, via which it has targeted on AI and machine studying (ML) capabilities. The corporate didn’t disclose the acquisition MarketLab quantity.

For extra data on Scandit and its AR and AI-powered options for retail, please go to the corporate’s website.

Picture credit score: Scandit / MarketLab