Growth Objectives with Investment
Offering innovative payment and POS solutions, VisioLab has raised $11 million in its latest funding round. The investment was led by eCAPITAL Entrepreneurial Partners and Simon Capital. The Germany-based company's Series A investment also included High-Tech Gründerfonds, zwei.7, and Heartfelt (formerly known as APX).
Digital Transformation with A.I.-Based Solutions
VisioLab plans to use its new investment to expand its AI-powered self-checkout and payment platform on a global scale. The company's founders, Tim Niekamp and Justin Shenk, are focusing on fully digitizing transactions at food service points.
This allows users to quickly pay for their products in restaurants, cafeterias, and various event venues through iPad-based systems. Thanks to the developed technology, both packaged and loose food products are instantly recognized, initiating payment processes. This system enables much faster and lower-cost transactions compared to traditional cashier methods.
In short, VisioLab aims to reduce operational burdens in businesses while enhancing the user experience.