Startup RRS thrives with AI-Based Catering Solution, Secures 0.5M...

Startup RRS thrives with AI-Based Catering Solution, Secures 0.5M Investment, and Valued at 8M

Retail Tech Insights | Friday, September 22, 2023

Paris,— Retail Robotics Solutions (RRS), a pioneering French startup specializing in AI-driven self-service checkout solutions, has successfully raised €0.5 million in exchange for 6.25% of its shares. The new investor is Ariel Investments Corp (USA), known for its focus on investing in breakthrough technologies. This investment has placed RRS at a valuation of €8 million, marking a significant milestone for the company as it continues to redefine how restaurants and corporate canteens engage with their customers through cutting-edge AI technology.

RRS is part of the French Tech ecosystem and is a resident of Station F, EU largest French startup incubator.

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RRS has achieved remarkable success with its groundbreaking RRS Robot-Cashier, an AI-powered solution that is revolutionizing the dining experience. Harnessing advanced AI and neural networks, the RRS Robot-Cashier has proven to be a game-changer, reducing customer waiting times by up to tenfold. Furthermore, its implementation has resulted in substantial cost savings for businesses, with the potential to reduce labor costs by up to €3,000 per month per cashier from the moment of deployment.

The recent €500,000 investment from Ariel Investment Corp represents an exciting development in RRS's growth journey. This seed investment aims to strengthen RRS's market presence across Europe, enabling the company to reach new heights and enhance its offerings for restaurants and corporate canteens.

Alexander Smukler, CEO of Ariel Investment Corp, expressed optimism about RRS's expansion into the US market, stating, "After witnessing the success of significant pilot projects in France and Estonia, I am truly impressed. RRS's AI-powered technology has the potential to revolutionize the dining landscape in the United States."

Looking ahead, RRS has ambitious plans for growth. Anticipated Series A investments, expected by the end of 2023, will focus on a robust expansion into the US market, targeting self-service restaurants and corporate canteen operators. Subsequently, RRS envisions further advancement through Series B investments in May-June 2024, with a dedicated focus on research and development to expand into the vast retail market, which presents significant opportunities for RRS beyond its current catering scope.

Dmitry Rodin, CEO of RRS, expressed his gratitude to Station F, a startup incubator that played a crucial role in supporting RRS during its formative stages. "We are very grateful to Station F for being an invaluable startup incubator and supporting us throughout our journey," said Dmitry Rodin. "Our success and sustainable development are, in a significant part, based on the unwavering support we received from Station F and the French Tech ecosystem. We are excited to welcome Ariel Investment Corp as a valued partner and investor in RRS. This collaboration will empower us to advance our mission of revolutionizing self-service dining experiences globally. With the support of Ariel Investment Corp, we are poised to solidify our position as industry leaders and extend our reach to transform the dining landscape."

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