Retail tech startup YOOBIC has raised $5.3 million in a Series A round led by Felix Capital.
The company has developed a B2B mobile platform for monitoring retail operations in real-time with guidelines on compliance and execution. CEO Fabrice Haiat describes the platform as the “store manager’s virtual assistant” and added that the company is working on AI and image recognition tools.
YOOBIC was previously self-funded. The new funding will be invested into R&D and customer success services, said Haiat, with the company expecting to double its workforce to 100 in its London, Paris, and Tel Aviv locations. Lacoste, Carrefour, and Peugeot are among YOOBIC’s customer base.
“This fund-raising from Felix Capital is an exceptional opportunity for YOOBIC. Fréderic Court is one of the most successful investors in Europe, with true retail expertise,” added Haiat. “In addition to the funds raised, we wanted to surround ourselves with a team able to support us in our fast growth.”
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