Top 10 Most Promising Retailtech Companies in India 2022
The companies dealing with the retailtech are the ones that use the most innovative and creative kind of cutting-edge technology to create an environment that has brick-and-mortar and E-commerce different stores to become one. According to one report of the Venture firm Notion Capital, the retail innovation and the investment program’s procedures or opportunities fall into two broad categories: disruption and enablement.
The enabling technologies help the existing retailers to adapt to the new change quickly, and on the other side, the disruptors are the challenging ones. They challenge the existing predispositions of what it means to be a retailer.
Retail tech is very successful for retail companies. With the introduction of the most emerging technologies and digital disruption, the customer shopping experience has completely changed over time. Nowadays, retail tech is considered the new buzz world, bringing so many changes and opportunities. For any successful business, delivering the customer’s experience is one of the significant aspects to keep in mind.
“Retail tech” is just a kind of method of including any technology company that has been supporting or enabling the production or selling of consumer products (excluding travel, events and gas) to consumers. All retail tech companies include the enablement of merchandising, shopping, marketing, operations, and order fulfilment in the stores.
There are many retail channels like in-store retail tech, E-commerce enablement, supply chain tech for the mid-and last-mile fulfilment, shopper loyalty, the number of rewards tech, and the new format of the retail enablement. Most of the retail tech companies in the year 2020 have raised over $14.8B in total equity funding across the 400+ deals from the 700+ unique investors.
We are seeing companies enabling e-commerce platforms from multiple angles as one of the dominant themes they have. It also includes the solutions that focus on increasing the page load speed and allowing the single-click to checkout, along with the new online channels such as text messages, video chat, and augmented reality voice.
Leading categories and trends
The category focus is a significant concern working with the retail tech companies and are working on the tech and software-enabled solution across their many categories. E-commerce infrastructure is a top category in the zone of retail tech.
They help provide the retailers with the utmost necessary tools to build and add multiple features to their e-commerce channels like social commerce and facilitating mobile operations. Many e-commerce platforms are included, like the VTEX and Ecwid, which hence offer the solutions to build the power business to consumer online stores (B2C).
There are many store operations and analytics, another top category that has been responsible for developing the vast array of solutions from robots to AR/VR to do the process of automation and improve the store operations. The fulfilment of robotic service providers who use mechanical hardware and software to automate the fulfilment process.
It has the function of merchandising and inventory management solutions and offers easy access to the product data and more accurate demand forecasting. This operation also simplifies the wholesale buying for the smaller shops, and this category accounts for the eight companies in the previous year. These operations are rapidly gaining the total market and have seen the best-accelerated demand amid the Covid-19 pandemic.
Let’s have a detailed look at how some retail tech companies in India that have been providing significant benefits to people and making the market grow and grow.
1. Faire
Faire is the one company that has been specializing in the assisting the retailers in the locating and purchasing the best wholesale products for their number of stores. The company was started in the year 2017, with their best kind of team members. The number of employees at their company comes around 250 to 500. The total funding amount value of the company has been great with their number of funding rounds which is nine.
The company has been moving forward with the help of its 16 investors. Faire is entirely a free and AI-powered platform where several retailers can easily find some of the new products for their stores. It also allows the retailers to A/B test merchandise, and they are easily able to return what does not sell for free as well. It is a complete online market for the retailers that helps them find the most impressive products to place them in their stores.
The company helps in the direct connection of the retailer to the particular brand that they want to invest in and make their new best sellers. The fire company even covers the free shipping towards the selected brands that are very unique and are determined for the pre-retailers.
The online marketplace of Faire Wholesale Inc. is valued at $12.4 billion after their $400 million funding rounds. The company’s platform has supported over 250,000 retailers and approximately 30,000 unique brands from more than 80 countries.
2. Grabango
Grabango is the industry leader in the process of self-checkout technology for the service of all the large-scale grocery along with the convenience stores, founded in 1016. It is a company giving the free service offered by the number of groceries. It allows all the shoppers to skip the checkout line and walk out of the stores after scanning the code in the Grabango app.
One of the best things about the company is the part that they are speedy. It almost takes a tenth the time of the convenient checkout. It comes nearly free, and users can download the application quickly from both devices. It’s straightforward for the users to use it. Many people who just wait for so many days remaining in their grocery lines can discover the joy of shopping with this company.
With this company, you just usually shop as you do, their system automatically adds the items, and you can quickly scan the code in the Grabango app the moment you do the checkout. It gives an award-winning kind of experience to all the shoppers. In a few phrases, Grabango is the one place that offers checkout-free shopping services based on computer vision, including the technology of machine learning.
3. Stackline
It is known to be a retail intelligence and software firm giving the best operations of e-commerce tools, data and services. It is a retail tech company built by veterans of the most renowned e-commerce industry. It is just the one platform for all the tools that you need to grow your own business.
The technology used with the Stackline activates the data, automates the execution, and even optimises the e-commerce platform. It has the world’s largest brands and retailers. It has the market intelligence, re-invented, and the measure category performance is done by the volumes of the sale, traffic, conversion rate, and more just across the online retail channels. You can easily access their online retail and digital commerce trends across the major categories.
The number of shoppers and gets the best of the marketing insights by quickly seeing the traffic and the shopping marketing activities driving sales across all the categories. You can get a unified view of your entire e-commerce business.
Connect the data across the business to unlock the number of insights and even discover some new opportunities for the most profitable growth. It has the feature of advertising automation for online retails. Stacking is completely changing how eCommerce advertising is managed through the most industry-leading technologies.
4. CleverCards
It is called a payment technology that has been allowing businesses and government to deliver the best digital master cards to anybody through their channel of SMS or email in real-time. It just offers you to pay anywhere, to anyone instantly. It is considered the global payments platform that has enabled the number of businesses and different government organizations.
You just spend in-store or online payments with other brands. The company has been providing their digital pre-paid Mastercards to corporate with various clients to reward their employees or customers. It has the gig economy with companies with a payment solution in order to pay their workers and other vendors instantly through their pre-paid Mastercards.
The company also works on the feature of their insurance claim, which means to pay the shares to their customers or their merchants very quickly through their only pre-paid Mastercard. The company has been facilitating the government payouts, which distributes the payouts to provide the benefits via their card only—enabling the service of airline payouts to pay their customers quickly with their digital MasterCard. You can easily transfer mobile minutes into a digital Mastercard, allowing users to quickly send the funds around the globe.
5. GrubMarket
GrubMarket sells the best kind of fresh foods online at a meagre cost, along with their super quick delivery. Founded in the year 2014, it is called to be a company that digitally transforms the American food supply chain industry. You can easily find a wholesaler and access the high, quality and exclusive products at low prices. Just get the company’s software, and explore the most modern solutions for inventory, warehouse and eCommerce and many more things.
You can have the food delivered to your doorstep get the farm-fresh foods offered at prices almost 50% less than the grocery stores. It is a complete food technology retail tech company with its mission of providing the best quality food for everyone at its doorstep.
It is an extensive kind of network among the wholesalers and distributors that sells their products to customers across various segments from groceries to the food services to schools, government, and the local markets.
They have stated with their company, “Our ability to offer superior services and the finest quality produce year after year is powered by our deep operational know-how, enduring relationships with our customers and vendors, and our investments in world-class digital transformation.” They have the modern kind of software powering the digital transformation. Their service of WholesaleWare is known as a cloud-based software that suites the food wholesalers.
6. Trove
Trove, the retail tech company, has been creating the white-label technology and end-to-end operations for the most premium and the luxury companies to fuel the most circular shopping. They have the most embedded content. They enormously collect the anonymous kind of analytic information whenever you visit the site and share it with other retailers.
The company does not share their data with third parties. Hence, they keep it with themselves wholly secure and safe. They make the best-automated decisions and inform their marketing efforts with the most effective kind of information. The data which is always collected is always protected, fill out the contact form and accepts their GDPR notice.
The company is committed to preserving and respecting their privacy. The company just uses personal information to administer the customer’s account and provide the services and products you request from the company. The company has a circular economy powerhouse for their customers.
7. AiFi
The company is known as a software development company involving a number of businesses specialising their store automation systems process and delivering the best kind of service to their customers. It is like opening a world of possibilities with their AI-powered retail solutions. It also makes the operations create their autonomous, checkout-free shopping experience at any location across the country. With the company’s most flexible. AI-powered supermarkets provide the best of services and create a new speciality shop in their office.
They help in the transformation of existing their store and install their AiFi solutions in all of their parts of the existing store while maintaining a very seamless experience. They give the accuracy within the three months of operation and have the affordable 12 months to achieve the ROI. The shopping behaviour of the company is immensely preferable and increases the operational efficiency and even drives the company’s revenue to higher places.
It is very autonomous, as in contactless checkout makes the shopping safer, faster and even more enjoyable. The operations with AiFi have been recommended for most people and make the retail stores very autonomous. AiFi used the technique of Artificial Intelligence, computer vision and the flow of the sensor to bring a better checkout- free experience to their customers that would be in any retail store concept.
8. Trax
This is a retail technology company that offers their in-store execution tools and market assessment services. Get the most actionable feedback with their stunning level of surveys. It develops social media management. It is considered to be the easiest way to capture the input and collect the data about your business. Before this company, you would be wasting a lot of time and money to get the feedback. Still, after joining the company, you use the beautiful, engaging surveys to collect in the moment feedback, effortlessly.
With this company, you regularly receive data-driven insights that help improve the business you are running—just connected with the real people at any time, anywhere. The platform has all-in-one services that the customer s need, like online surveys, offline Knots , and 360 Evaluation. Better marketing is always done using forms, landing pages, OR code generator and line tracker.
The company gives some of the fastest insights compared to other companies like Analytics, reports and dashboards. Customers need to focus on their business, and rest everything is taken care of by the company.
In the first step, get the feedback, then collect the feedback and uncover the insights. Tracx analyses feedback in real-time, saving your countless hours of number-crunching, and you always get the alerts when frustration or the failure occurs.
9. Happy Returns
It is called to be a return solution to make the beautiful kind of returns for the shoppers, merchants and the planet with their returns software and reverse logistics. It has the delight shoppers that are completely boc-free, label-free returns at our nationwide network of making 3,800 returns bars have earned us a 93 NPS from hundreds of thousands of happy shoppers.
Compared to mail returns, the company saves the money; compared to mail returns, their return bar returns are aggregated across the different merchants and shipped together, resulting in significant savings on shipping alone. Customers need to promote the intelligent kind of exchanges made at the company, which is always based on the return reason and the available inventory.
By replacing the company’s cardboard with the reusable totes, the company Happy Returns reduces the level of the greenhouse gas emissions by 120l lbs for every of their one million returns. Nearly all the shoppers who hire them said that a poor return experience will make them less likely to buy from a brand again. Over half of their returns, around 52%, are made in the company because of the size issue. Therefore, Happy Returns is considered the best while making the returns.
10. LISNR
It uses the most modern technique of ultrasonic data technology to provide the most secured, safe and seamless data transmission. It is known to be best when it comes to the retail tech technologies and development. The contactless authentication and their data-over-sound enable proximity verification and contactless transactions for the merchants and several financial services providers across the country.
It has the flexibility to support the encryption, cryptography and the critical exchange along with their full-duplex and their multi-channel features. The company can enable the most secure kind of transmission methods. All the clients connected to their company have complete control of their transmission of the data and the experience based on the transport layers and the concerned business model. Customers can easily customize their performance range from a few centimetres taking I to many meters along with the process of transmission.
The company is known for their work efficiency. It is a lot faster, seamless authentication experiences that are experienced with the combination of their range and the expertise of their control. It has the most affordable cost structure in the payment procedure, giving the best experience to their customers.
Importance of Retailtech companies
The retail tech companies are considered important this day because of the new emerging trends. With the speed of development the country is experiencing, it is bringing more chances for more advancement. The retail tech helps the businesses to grow with the higher income and make the business owners take their companies on a higher level.
The number of digital technologies can easily disrupt the retail sectors and help them enter the new age by re-inventing the overall supply chains. Technology plays a significant role in retail businesses; before this, customers had to stand in long queues to purchase their products. Now, after introducing the retail tech, it has made customers across the country satisfied and improved the customers’ feedback.
The use of technology in retail has made the payment process very easy and hassle-free and allows the customers to make their purchase even using their smartphones. The aspect of customer services has been better with this, machines like the self-help called the kiosks have been an excellent machine in the application of the IT in the retail industry.
Technology has ultimately improved the way customers have been shopping online and made the retail companies flourish more and more. Improvement in inventory management has been the other factor that has been better by the use of technology in the retail industry.
This practice has always been very costly for businesses, becoming completely easy. Then comes the aspect of price auditing, which is a process necessary for the companies to ensure that they are not overcharging or undercharging their customers. This has also been improved with better features and facilities.
edited and proofread by nikita sharma
