Retail AI and biometrics provider Aisles raises $100M to launch investment arm

Retail biometrics and technology provider Aisles has launched a new venture capital investment arm, fueled by $100 million in new funds raised, according to a company announcement.

Aisles Capital will utilize a dual investment strategy that includes supporting internal projects and finding investment opportunities within retail technology but outside of Aisles’ current areas of focus.

The company says the same investors behind its $30 million series A funding round are behind the new private funding round.

Aisles is up to 1 million active users and netted $40 million in profit in its first year on sales of its AI applications for in-store navigation, deal-finding, biometric security, and personalized learning, the company says in a separate announcement.

The company also has new leadership, with Jesus Ortiz Paz appointed chairman, and founder Ignacio Rosales is becoming CEO. Ortiz Paz is best known as the vocalist for Mexican American pop act Fuerza Regida. Despite the band currently being on tour, the announcement includes assurance that he will continue to oversee key decisions for Aisles. His LinkedIn profile also identifies him as the owner of Street Mob records and SM Ventures.

The company’s growth and strong financials have led to a $400 million valuation, and it claims a top position on business insight platform Crunchbase.

Article Topics

Aisles  |  funding  |  investment  |  retail biometrics