Advertima, a Switzerland-based developer of tracking technology for grocery products, has completed a €15m ($17.8m) series A round led by real estate services provider Fortimo.
Founded in 2016, Advertima has created technology that exploits computer vision and machine learning to automatically monitor stock levels at supermarkets and allow customers to purchase items without the need for human assistance.
The company’s technology is currently used by 14 clients across eight countries and it was developed in partnership with retail groups Migros and Spar. Migros also took part in a $5m funding round for it in 2017, investing alongside 17 unnamed participants.
The funding will be used to strengthen Advertima’s product development and market position. It plans to invest about $30m over the next two years, with the remainder of that amount to be sourced from revenue.