ADM Capital’s Cibus Enterprise Fund Invests into Artificial Intelligence and Computer Vision Platform for Retail, Adroit Worldwide Media Inc.

London, UK: ADM Capital Europe LLP, the London-based private equity advisory firm, is pleased to announce that the Cibus Enterprise Fund (‘Cibus’) has invested into the U.S. based retail technology provider Adroit Worldwide Media, Inc., (‘AWM’). 

Technology has reached the point where supermarkets can retrofit their stores with cameras, smart shelves and sensors which provide sufficient data for more efficient shelf stacking, checkout-free shopping, optimising inventory levels and logistics which improve waste reduction.  This so-called “frictionless retailing” also enables new formats of stores such as small “hyper-local” stores in a college campus or office building.  According to a recent report by Google Cloud, application areas for AI and Machine Learning in physical retail have the potential to drive between USD 280-650bn in value within 3 years.[1]

AWM, based in Aliso Viejo, California, provides a suite of products for retailers that includes AWM Frictionless™, a check-out free technology that enables shoppers to walk into a store, remove products off the shelves and leave the store without any need to either scan purchases or go through a checkout line.  Digital weight-sensing shelves also enable targeted advertising and dynamic pricing.

Commenting, Alastair Cooper, Head of Venture Investing at ADM Capital Europe said: “Physical retailers are coming under renewed pressure that requires digital transformation to compete better with online players. With recent advancements in machine learning and computer vision, the retail sector is set to undergo monumental disruption.  We are thrilled to partner with Kevin and his team at AWM who have developed a number of technologies that can be implemented in a wide range of store sizes and formats, from micro-markets to convenience stores and larger-format retailers.”

Commenting, Kevin Howard, CEO of AWM, said: “Food and fast-moving goods waste has always been top of mind for me. At AWM we set out to build an entire eco-system of technologies that will reinvent retail as we know it today. Our team of leading developers, engineers and data scientists have created solutions that yield higher returns and streamline communication, while reducing waste and helping retailers become more efficient. We are honoured to receive investment and partnership from the ADM Capital advised Cibus Enterprise Fund, a fund in which its core values and mission correlate directly with our own. Their global reach will assist AWM greatly as we take the next step in our journey.”

[1] Google Cloud, December 2020: Transforming Food, Drug and Mass Merchant Retail with AI.

 

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