“The management of Sodexo Ventures were evidently intrigued by AEYE-GO’s automated checkout kiosk technology, which is designed to use both facial and object recognition to identify individuals in a cafeteria and the items on their food trays.”
AEYE-GO has become the latest China-based AI firm to receive venture capital funding, which has arrived from Sodexo Ventures.
The investor is the VC arm of Sodexo, a French company that specializes in managing the day-to-day operational basics of client enterprises such as food services and building maintenance. The management of Sodexo Ventures were evidently intrigued by AEYE-GO’s automated checkout kiosk technology, which is designed to use both facial and object recognition to identify individuals in a cafeteria and the items on their food trays. The technology can not only be used to automatically ring up orders, but also to provide consumers with nutritional information about what they’re buying.
Sodexo says it is already trialing AEYE-GO’s technology at multiple locations in Shanghai, with plans to “expand operations in China and internationally,” according to a statement.
Commenting on the investment, Sodexo Chief Digital and Innovation Officer Belen Moscoso Del Prado said, “The AEYE-GO solution promotes healthy eating choices, enhances the consumer experience – no need to wait in a check-out line or carry cash, badge or mobile in the restaurant – and helps clients optimize sourcing and reduce food waste,” adding, “China is an epicenter of innovation, and we are proud to partner with the creative team behind AEYE-GO to bring artificial intelligence and the power of data to our industry.”
The companies’ announcement did not reveal the size of Sodexo’s investment in AEYE-GO; in any case, the news reflects a broader trend that has seen huge capital flows into China-based AI firms, which have overtaken American startups in VC funding this year, according to a recent report.
November 12, 2018 – by Alex Perala