Edgify Raises €7.7 Mn to Expand Edge AI Platform for Retailers

Edgify provides AI technology for physical retail stores. Its platform helps retailers use AI at the edge to detect and prevent in-store losses, such as theft and other security issues.

The funding round was backed by Rank Ventures and Mangrove Capital Partners. Edgify will use the new funding to expand and roll out its platform faster. The latest round brings the company’s total funding to €21.6 million (US$25 million).

Nadav Israel, CEO and Co-founder of Edgify, said, “We founded Edgify on a simple conviction: intelligence should live where data is created, and devices should learn as one. 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. The operational friction Edgify has solved in grocery and convenience stores can be replicated in any industry where fleets of devices meet the physical world, as demonstrated by our expansion into QSR, distribution centres, and apparel.

Mitchell Goldman, COO at Edgify, said, “Retail is the ultimate testing ground for edge AI, because it has more smart devices per site than almost any other industry, and real-world constraints on cost, latency and privacy. Loss prevention is where the value shows up first, and it is why the world’s leading grocers are working with us today. But the real breakthrough is the underlying platform: translating isolated in-store hardware into a unified system for future AI applications. This funding lets us scale both the use cases and the Edgify platform itself.”

Founded in 2019, Edgify is an edge AI technology company that helps grocery retailers reduce losses, improve daily operations, and provide a better shopping experience.

The company’s platform connects different devices used in stores, such as self-checkout machines, cameras, weighing scales, and payment systems.

Edgify brings these devices together into a single AI-powered system. This allows the devices to work together, learn from information collected inside the store, and share useful insights across the retailer’s network.

Instead of sending raw store data to the cloud, Edgify allows AI models to process information locally on the devices. This can help retailers improve data privacy while making their stores smarter and more efficient.

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