Retail Tech Startup Raises $30M in Series A

Aisles, a retail technology company based in Portland, Oregon, has closed a Series A funding round that brought in $30 million in additional capital. The new capital will be used to develop and deploy Aisles’ AI ecosystem, which includes navigation tools, biometric security features, and personalized shopping assistance designed to improve the efficiency and security of shopping.

Aisles’ biometric security system, known as TRUSTIS, uses biometric algorithms to provide secure shopping experiences. By integrating facial recognition and other biometric markers, TRUSTIS aims to reduce fraud and increase customer security. The system is part of Aisles’ broader strategy to address common retail challenges with innovative technology.

In addition to biometric security, Aisles offers AI-powered tools such as AISLES for store navigation and SAVES for finding deals. AISLES helps users navigate stores efficiently, while SAVES identifies promotions tailored to individual preferences, aiming to make shopping more personalized and convenient.

With over one million active users and generating over $15 million in net profit annually, Aisles has established a solid footing in the retail technology space. It is part of a broader trend of companies integrating biometric technology into this sector. Other companies, such as Amazon with its Amazon One palm-scanning technology and NEC Corporation with its facial recognition systems, are also making strides in retail. Such technologies aim to enhance security, streamline checkout processes, and personalize the shopping experience.

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May 28, 2024 – by Ali Nassar-Smith