AI computer vision & consumer engagement advertising platform SmartRetail receives investment from KMP

The Malaysian government-owned venture capital firm Kumpulan Modal Perdana (KMP), which specializes in technology, announced on Tuesday that it has made a successful investment in SmartRetail, a Singapore-based platform for consumer engagement advertising technologies and computer vision artificial intelligence (AI) profiling solutions.

Two strategic investors, MCP Group, one of Asia’s top asset management companies, and LMI Group Inc., one of Japan’s biggest retailers of retail solutions, have also joined the startup’s funding round, according to a statement from SmartRetail.

As per the statement, SmartRetail intends to propel its strategic global expansion with the help of the funds and expertise raised in this funding round.

KMP’s funding will specifically go toward the startup’s market introduction in Malaysia and the expansion of the technology team there.

Empowering the Malaysian team involves investing in upskilling initiatives and hiring the best local tech talent in Malaysia.

With this investment, the company hopes to further technological progress and solidify its position as a pioneer in retail technology solutions.

“With KMP’s expertise and partnerships, we hope to secure a strong presence in the Malaysian market and beyond. Our strategic collaborations and continued success in global deployments underscore the growing demand for SmartRetail’s revolutionary solutions in the retail industry. We look forward to revitalising the way businesses understand their consumers with our specialised computer vision AI profiling solution to effectively drive targeted advertisements for retailers,” said Adam So, Founder, and Chief Executive Officer of SmartRetail.

Convenience stores, gas stations, vending machines, and other retailers can take advantage of SmartRetail’s disruptive action-based advertising technology, anonymous facial recognition technology, and consumer insights solutions. SmartRetail was founded in 2009 and is a major player in the Asian engagement out-of-home (EOOH) or digital out-of-home (DOOH) 2.0 market.

With numerous prestigious clients throughout Asia, such as in Malaysia, Hong Kong, Singapore, and Taiwan, the startup is currently forming strategic alliances with important players in the country, such as retailers, digital signage owners, and advertisers (brands and marketing agencies), in order to smoothly introduce their ground-breaking advertising technologies and creative computer vision solutions to meet the demands of the Malaysian market.