Retail Robotics Solutions, a Paris, France-based provider of AI-driven self-service checkout solutions, raised €0.5M in funding, in exchange for 6.25% of its shares.
The round – which valued the company at $8M – was led by Ariel Investments Corp.
The company intends to use the funds to strengthen its market presence across Europe and enhance its offerings for restaurants and corporate canteens.
Led by CEO Dmitry Rodin, Retail Robotics Solutions provides RRS Robot-Cashier, an AI-powered solution for improving the dining experience. Leveraging AI and neural networks, the company aims to reduce customer waiting times and enable cost savings for businesses.
Looking ahead, the company has plans for growth. Anticipated Series A investments, expected by the end of 2023, will focus on expansion into the US market, targeting self-service restaurants and corporate canteen operators. Subsequently, RRS envisions further advancement through Series B investments in May-June 2024, with a dedicated focus on research and development to expand into the vast retail market.
RRS is a resident of Station F, a French startup incubator.
FinSMEs
20/09/2023