16 Oct Adroit Worldwide Media Closes Out $11 Million Series A Financing Round
Vision company poised to accelerate growth of its AWM Frictionless™ autonomous shopping technologies
Closeout of round led by Impact Venture Capital
ALISO VIEJO, Calif.–(BUSINESS WIRE)–Adroit Worldwide Media, Inc. (“AWM Smart Shelf” or “AWM”), a vision technology company powered by artificial intelligence, computer vision, and machine learning, today announced the closing of its $11 million Preferred Series A financing round. The closeout was led by Impact Venture Capital, a Silicon Valley based group that partners with game-changing entrepreneurs. Also participating in the closeout were existing investors Mark IV Capital and The Contrarian Group. With the closeout of the Series A round, AWM is poised to accelerate growth of its revolutionary retail technologies and to strengthen its global footprint.
AWM is among the world leaders in the emerging autonomous retail shopping sector and the developer of the AWM Frictionless™ shopping application, an advanced cashierless checkout system that enables shoppers to walk into a store, remove products off the shelves and leave the store without any friction from the need to either scan purchases or go through a checkout line. The shopper’s digital wallet is automatically charged for only the items taken out of the store. The technology utilizes cameras and leverages advanced computer vision and deep learning algorithms. AWM’s offerings also include Automated Inventory Intelligence (Aii®) and consumer behavior tracking applications which utilize artificial intelligence and computer vision technologies.
“The Impact Venture Capital team along with our other seasoned board members and highly valued investors see the vision for where the retail sector is headed,” explained Kevin Howard, AWM Chief Executive Officer. “In partnership with these investors, AWM has the ability to transform retail through our vision technologies. As one of the clear market leaders in the sector, a seamless and sustainable marketplace powered by our technologies is on the short-term horizon.”
The Company also announced that Jack Crawford, General Partner of Impact Venture Capital, has joined AWM’s Board of Directors.
ABOUT AWM SMART SHELF
AWM’s solutions provide a platform that incorporates computer vision, digital and other advanced in-store technologies within the retail ecosystem. AWM has pushed the envelope in development of Facial Recognition software, globally scalable Content Management Software, and the optimization of large format video player programming and controllers. AWM’s latest offerings are the culmination of these disciplines; offering solutions that increase operational efficiencies, create intimate customer experiences, and generate increased revenue streams for retailers and brands. AWM was recently named the 2019 Outstanding Small Technology Company by OCTANE. For more information please visit: www.smartshelf.com
Investor Relations Contact:Brad Timon
CFO and Treasurer