Kumpulan Modal Perdana, a government-owned tech-focused VC, announced today their successful investment in SmartRetail, a leading computer vision AI profiling solutions and consumer engagement advertising technologies platform. The startup’s funding round is also joined by two strategic investors LMI Group Inc., one of the largest retail solutions providers in Japan, and MCP Group, one of Asia’s leading asset management firms.
SmartRetail said it will utilise the funds and expertise from this round of funding to drive the company’s strategic global expansion. Adam So, founder and CEO of SmartRetail shared, “We proudly welcome our new investors KMP, LMI and MCP in this latest round. With KMP’s expertise and partnerships, we hope to secure a strong presence in the Malaysian market and beyond. Our strategic collaborations and continued success in global deployments underscore the growing demand for SmartRetail’s revolutionary solutions in the retail industry. We look forward to revitalising the way businesses understand their consumers with our specialised computer vision AI profiling solution to effectively drive targeted advertisements for retailers.”
Founded in 2009, SmartRetail is the leading Engagement Out-of-home (EOOH) or Digital Out of Home V2.0 (DOOH 2.0) player in Asia, offering its disruptive action-based advertising technology, anonymous facial recognition technology, and consumer insights solutions to retailer partners that include convenience stores, petrol stations, vending machines, and others.
As part of the global expansion, SmartRetail will be introducing its solutions to the Malaysian market. The company provides high-end retail technology solutions to support retailers and advertisers, using its proprietary AI computer vision profiling and recognition solutions, Perceptron and Ai:Dentify, to track consumer engagement and generate actionable data insights.
