On Monday May 6, 9 companies from across continents gathered in Berlin for the launch of the first-of-its kind METRO Target partnered program.
For a period of three months 9 companies will relocate to Berlin and Minneapolis. With the participation of C-Suite mentors, support for scaling, and potential piloting opportunities the startups will gear up for further growth and internationalisation.
A selection panel of more than 30 member comprising investors, METRO and Target executives, as well as other valued partners selected 9 tech startups from Germany, France, Israel/USA, USA and Sweden. Over the next 3 months they will get an unprecedented access into both METRO and Target, to further develop, refine and test their business models with extensive support. The program also entails an investment component in the form of a convertible note from both METRO and Target, as well as support in the areas of piloting, scaling and industry expertise.
The highlight of the program: On August 8, the teams will pitch their solutions to potential investors and key stakeholders in Minneapolis at the Target headquarters.
“This accelerator program is strategically important for us and highly relevant for our 24 million customers. Our sector is one of the markets with the strongest digital growth rates and therefore the exchange between startups and industry experts in the framework of the accelerator represents the key for developing important competitive advantages. And with this joint program we will be able to promote startups even more specifically and thereby build on the success of our first program” – Sylvia Dudek, Program Director
With the new METRO Target Retail Accelerator the following 9 start-ups from 5 countries across the world will be provided with unique access to the wholesale and retail industry across continents:
- Afresh from San Francisco (USA) – Afresh’s technology brings intelligence in the fresh food supply chain and reduces food waste. By using machine learning Afresh analyzes customer data and forecast product demand. Retail managers can then use the Afresh software to order the exact amount of fresh food that they’ll need.
- CB4 Analytics headquartered in New York City (US) with offices in London (UK) and Hertsliya (Israel) – Retailers use CB4’s patented AI and machine-learning software to uncover operational issues affecting products with high local demand in stores. By analyzing only POS data, CB4 alerts store teams when issues like out of stocks, missing or mislabeled products, or other issues prevent customers from purchasing the items they love the most. By using CB4, retailers improve in-store customer experience while increasing net new sales between 0.5 – 2%.
- Einride from Stockholm (Sweden) – rethinking road transport from scratch Einride’s solution is based on autonomous, all-electric vehicles, coordinated by an intelligent routing software, that integrates customer
- IDEE from Munich (Germany) – IDEE is a software company that creates a re-usable digital “identity” so users can checkout instantly, without passwords or data entry. IDEE leverages the user’s smartphone,cryptography and blockchain technology, to create these digital identities.
- LISNR from Cincinnati (USA) – LISNR has developed a new communications standard. Unlike Bluetooth or Wi-Fi, LISNR’s technologyis based on an ultrasonic data transmission, enabling secure bi- communication between mobile devices and the point-of-sale payment terminal via speaker or microphone. This tech can broadcast the attendee’s data to verify their ID, authenticate shoppers and safely process payments. The result: a seamless and simple experience for the customer.
- Perksy from New York (USA) – Perksy is a next-gen consumer insights platform that powers real-time research with millennial and Gen Z audiences through an immersive and gamified mobile app where users are rewarded for answering brand questions.
- Sezzle from Minneapolis (USA) – Sezzle is the U.S.-based “Shop Now, Pay Later” payment platform, helping merchants increase online sales and order values by enabling shoppers to buy now and pay later with interest-free installment plans.
- Shelfbucks from Austin (USA) – Shelfbucks provides a real-time merchandising analytics platform that automatically tracks and improves ongoing daily performance of in-store display promotions and inventory from supply chain to the sales floor for full transparency to retailers and supplier partners.
- UntieNots from Paris (France) – UntieNots provides retailers with AI powered gamified loyalty solution. Across all channels, shoppers receive personalized challenges to accomplish in order to win rewards. The mission, the condition, and the reward level are one-to-one personalized. Challenges are displayed on the web-app and on the retailer’s app for a very smooth user experience.
In this program we look forward to working closely with the selected start-ups to deliver business goals.