Edgify raises $9m from Rank Ventures and Mangrove Capital to expand its retail edge AI platform
The Series A+ round will support the rollout of its in-store artificial intelligence technology across new retail sectors.
Edgify provides edge AI software that connects existing supermarket hardware to process data locally.
London-based Edgify has secured $9m in a Series A+ funding round to scale its edge AI platform for retailers. The capital was provided by Rank Ventures and Mangrove Capital, with the latter returning as an investor following participation in the company's 2020 seed round. The fresh funds will support the deployment of the technology across existing grocery stores and hardware partners, alongside expansion into new sectors such as quick-service restaurants and apparel.
Edgify develops software that links in-store hardware like checkouts and cameras without requiring new equipment or cloud data transfers. The system trains models directly on local devices and shares insights across the network to reduce costs and maintain data privacy. The company currently operates with grocers across Europe and the US.
From the founder
"A store is a fleet of machines that can see, decide and learn together, without a single byte leaving the building. Retail is just the beginning,"
Nadav Israel
CEO and co-founder at Edgify
Investor perspective
"The winners in AI will be the companies that own the point where data is created, and in physical retail, that point is at the edge. Edgify has spent years building technology that trains and runs models on ordinary in-store hardware, and its traction with major grocers and partners like Zebra shows the market is more than ready,"
Rajan Dosanjh
managing partner, Rank Ventures
Use of funds
- 01Expand into international markets