DeepTechGenie, a startup that uses AI and IoT for smart retail stores, has raised an undisclosed amount of money from Enlighten Capital, a modern investment company.
The startup plans to use the funding to grow its Smart Store model in cities and smaller towns across India, invest more in research and development, and expand by building strategic partnerships.
The company wants to build a network of smart, fully automated stores across India that don’t need regular checkout counters or many staff to run.
The company is also putting more money into research and development to create shopping experiences that are personalized and based on customer data. It also plans to grow into other areas like healthcare, logistics, and hospitality.
Bikash Kumar Mohanty, CEO and Co-Founder of DeepTechGenie, said, “Our vision is to revolutionize shopping with technology that bridges customers and retailers, making shopping smarter, faster and more engaging. This funding marks a pivotal milestone in our journey and will help us further empower retailers with cutting-edge, user-friendly solutions.”
Koushik Sheker, CEO of Enlighten Capital, stated, “We are excited to partner with DeepTechGenie as they lead the retail sector into a new era of automation and intelligence.”
DeepTechGenie was started in 2023 by Basha Mohanty and Bikash Kumar Mohanty. The company is transforming retail by turning regular stores into modern smart stores using advanced technology.
DeepTechGenie’s Smart Store features—like checkout without counters, smart tags, smart shopping carts, flexible pricing, and AI-powered insights—are already making shopping better in places like grocery stores, clothing shops, electronics stores, and more.
Read more- QureBio Raises Nearly CNY 100M in Series C1 Funding
