Reckon.ai, a Porto-based startup that transforms cabinets, fridges, and shelves into autonomous, AI-powered retail units, has secured €5.1 million to support its international expansion and enter new sectors.
The funding round, as ECO reports, was led by Iberis Capital, with participation from Alea Capital Partners, and Touro Capital Partners – bringing total capital raised to €8.5 million.
The company intends to use the new funding to expand its patented technology into verticals such as pharmaceuticals, cosmetics, and electronics, while growing its activity in strategic European markets and developing its presence in the United States.
“At Reckon.ai, our mission is to redefine the way consumers interact with shopping, making it simpler, more intuitive and more practical,” Ana Pinto, CEO of Reckon.ai, was quoted as saying.
“This investment marks a defining moment for the company as it will accelerate global expansion and continued technology innovation. We are very excited to bring the future of retail to more places and sectors, empowering companies and surprising consumers.”
Reckon.ai’s system enables unattended retail operations by adding AI software to existing hardware – converting ordinary retail fixtures into smart, autonomous points of sale.
The platform supports modular payments (card, mobile app, tap-to-pay), real‑time inventory tracking, GDPR-compliant privacy, and analytics designed for seamless integration into a variety of settings, including convenience retail, mobility hubs, hospitality venues, and travel infrastructure such as airports and train stations.
Reckon.ai’s technology is already deployed in over ten markets including Spain, France, Germany, Belgium, the Netherlands, and the United Kingdom. Its clients include major retail names such as Jerónimo Martins (Pingo Doce), Carrefour, Sonae (Continente), IKEA, REWE, Lekkerland, and Petit Forestier.
To support expansion, the company has grown its team from about 20 employees at the start of the year to around 40 today, and plans to reach about 80 staff by 2026 – focusing hiring on development, operations, and customer success roles.
The retail automation market is growing rapidly, driven by rising demand for convenience, labor cost savings, and enhanced tech-driven shopping experiences. Advances in AI, robotics, and omnichannel strategies are improving both in-store and warehouse operations.
Valued at around $29 billion in 2024, the market is expected to more than double to nearly $72 billion within the next decade, growing at an annual rate of 9.5% from 2025 onward.
Within this sector, unmanned convenience stores – similar to the concepts Reckon.ai enables – are experiencing significant growth, with the global market worth $4.18 billion in 2023 and estimated to reach $16.53 billion by 2031, growing at a compound annual rate of 18.7% from 2024 onward.
This growth reflects rising demand for contactless, 24/7 retail access, and solutions that can be integrated into diverse locations such as travel hubs, hospitality venues, and electric vehicle charging stations.
Featured image: From left to right: Luis Guerra (COO), Paulo Ribeiro (CTO and co-founder), Ana Pinto (CEO and co-founder), and João Ferreira (CFO) of Reckon.ai (Photo courtesy of Reckon.ai via ECO)
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