Tiliter has completed a $7.5 million capital raise led by Investec Emerging Companies, with participation from Eleanor Venture and Cornell University.

The Sydney-based firm's technology uses computer vision to recognise products without barcodes.

Its early adopters include Woolworths in Australia - with over 20 live stores - Countdown in New Zealand, and several retail chains in the US, such as New York’s Westside Market. The company will use the latest funding to accelerate its expansion across Europe and the US.

Tiliter is currently focused on the supermarket vertical and its camera and software system uses artificial intelligence to pre-select items and remove the need for manual entry, with over 99 per cent accuracy and in under one second.

With retailers increasingly moving towards self-checkout and mobile-checkout options, Tiliter claims its system reduces fraud, costs and waste for businesses, while addressing the need for contactless purchases in a COVID-19 world.

This can all be done with limited integration and no changes to the retailer’s existing IT infrastructure.

The firm was founded in 2017 by Marcel Herz, Martin Karafilis, and Chris Sampson.

Chief executive Herz said there had been a 300 per cent increase in scan-and-go adoption in the US over the past year due to COVID, and this growth is expected to rise globally.

"As an industry, we’re just at the beginning of how AI combined with computer vision will shape the future for brick-and-mortar and online shopping - it was important that we partner with investors that understand the new dynamics in retail innovation and the massive opportunity arising from this change,” he added.

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