VisioLab, an Osnabrück, Germany-based startup that offers AI-based self-checkout solutions for food service providers, raised €2 million in seed funding.
The round was led by High-Tech Gründerfonds (HTGF), joined by local family office zwei.7 and current shareholders NBank Capital, Axel Springer & Porsche Accelerator (APX), and Jens Ohr.
VisioLab will also participate in the Sodexo Live Accelerator in the US, a program designed to support the growth and development of innovative food service companies. The Accelerator provides VisioLab with important resources, contacts, and support to gain a foothold and quickly establish itself in the US market.
Tim Niekamp, CEO of VisioLab, said, “We are thrilled to have the support of such a strong group of investors to further expand our self-checkout solutions. The Sodexo Live Accelerator provides us with the opportunity to work closely with industry leaders and leverage their expertise to grow our business and bring our solutions to a wider audience in the US market.”
VisioLab’s self-checkout solutions are designed to streamline the checkout process for food service providers, allowing them to reduce labor costs and improve customer experience.
The company’s solution is designed exclusively to run on iPads, making it highly cost-effective, accessible, and user-friendly. The AI-based food recognition system classifies packaged and unpackaged products within one second and is used in refectories and company restaurants across Germany.
Company: VisioLab GmbH
Raised: €2.0M
Round: Seed Round
Funding Month: January 2023
Lead Investors: High-Tech Gründerfonds (HTGF)
Additional Investors: zwei.7, NBank Capital, Axel Springer & Porsche Accelerator (APX), and Jens Ohr
Company Website: https://www.visiolab.io/
Software Category: Checkout Solutions
About the Company: Founded in 2019 by Tim Niekamp and Iwo Gernemann, VisioLab is a software company that provides flawless check-out experiences in canteens by offering an AI-based, automated software solution in combination with a hardware-enabled object recognition service that instantly identifies the composition of orders (dishes, menus, etc.). VisioLab combines human-centric artificial intelligence and the responsibility to make data-driven decisions to create a more sustainable food economy around the world. It aims to build human-centered artificial intelligence that makes life easier and more enjoyable for everyone.
Source: https://www.htgf.de/en/htgf-seed-visiolab/