As per The BRC Retail Crime Survey, during 2016-17, there have been over half a billion pounds of loss in the UK due to customer theft. This is where the intelligent computer vision software built of ThirdEye comes to play. The startup claims to help retailers and staffs prevent up to £56 billion (nearly €65 billion) theft along with other benefits such as better understanding of customer behaviour, eliminating queues and limited stock-outs. The UK-based startup aims to make that possible with the help of artificial intelligence (AI).
Raises over €2.3M funding
In a recent development, the UK-based retail security platform has raised over €2.3 million Series C funding led by European venture capital firm Octopus Ventures along with participation from True and existing seed investor Episode 1 Ventures.