AI startup Tiliter secured $7.5M in Funding round backed by IEC

Tiliter, a Sydney based retail tech startup has now secured $7.5 million in funding. Tiliter is founded by Marcel Herz, Martin Karafilis, in the year 2017. It is an Artificial Intelligence provider whose technology uses computer vision to recognize products without barcodes. Its technology automatically identifies items without the need for barcodes, price stickers, and packaging, which makes it easier for shoppers to manage at the time of self-checkout. CEO and co-founder of Tiliter Marcel Herz, said, "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".