February 9, 2022
Tokinomo, a startup focusing on interactive in-store brand activation systems, has announced it raised $1.7 million to expand its product line and fuel global expansion. The company is building solutions for consumer goods companies and retailers that engage, advertise and capture data at the point of sale. Its main product is a robotic point-of-sale (POS) display system that promotes products in grocery stores that “results in brand awareness, brand recall, and sales lift.”
Through local partners, the Tokinomo robots are powering retail marketing campaigns for leading consumer goods brands in more than 40 countries. The company said that when compared to previous periods, or to stores that don’t use the devices, the Tokinomo campaigns deliver a sales lift of more than 200% on average across different categories.
The robots are native to a supermarket shelf, designed to capture shoppers’ attention in the grocery aisle. Through sensors, light, motion and sound, the robots help bring a product to life – the products themselves become animated to tell the story. Tokinomo gives brands the opportunity to create shopper marketing campaigns, as the robots are connected to the Internet and can be managed remotely.
“About four years ago, when we first found out about Tokinomo, a prototype back then, we knew it was a prodigy child,” said Veleriu Corniciuc, founder and CEO of Instore Power Provider (IPP). “As a leading retail marketing company, we were among the first users and promoters of Tokinomo, and we enabled its adoption. Now we are happy to increase our support further, investing in this intelligent customer engagement solution and drive its expansion.”
In addition to IPP, Early Game Ventures and a group of angel investors participated in the pre-Series A investments.
The company said it will focus on developing new products for in-store marketing and expand its sales efforts. “The new products are inspired by what we learned in the last two years and are based on our customers’ feedback to provide critical data for brands and retailers,” said Ionut Vlad, co-founder and CEO of Tokinomo. “Tokinomo is investing in customer and partner success and is hiring sales reps in focus countries to support and grow our local partners.”
For more details on the company, visit the Tokinomo website here.