Recoshelf Received Investments From Think Bigger Capital
Recoshelf is an Estonia-based startup with Ukrainian roots that helps digitize retail trading floor operations with the use of IoT and AI.
Tallinn, July 1, 2021: Recoshelf announces a 100 000 Euro investment from the Spanish venture capital firm “Think Bigger Capital”, an asset management company of Demium incubator. It is a reflection of our recent progress in building an innovative “computer vision” solution for the rapidly changing retail sector.
Think Bigger investment would help Recoshelf to grow their product faster in a dynamic RetailTech environment. They have managed to attract the interest of top retail companies and we wish the team to meet their expectations soon», said Borja De Rivera, Investment Principal.
“As an early-stage startup, we were looking for smart money that would help us open doors to big businesses. The current investment from Think Bigger would fuel rapid product development and aid in closing forthcoming deals with our new customers.” - said Yaroslav Parkhisenko, Recoshelf CEO.
“With great support from our investors, mentors, and customers, we’ve built the unique “Rcam” AI solution. One of the recent achievements of our R&D team is reaching a 98% shelf objects recognition level that is nearly comparable to human. Actually, the machine acts like a digital eye that not only frees floor personnel from routine tasks but also cuts COVID risks,” says Recoshelf CTO, Mykyta Holubakha.
Earlier, Recoshelf had managed to receive investments from Ukrainian Startup Fund “USF” . Recoshelf has become a finalist of the Amazon AI challenge and StartUs startup community has indicated this is a “startup to watch in 2021”.