IBM makes its largest startup investments so far in Indivd
IBM Sweden has made one of its largest startup investments so far in the AI company Indivd. “Indivd is a really interesting company with an AI-solution which will be able to create incredible benefits for physical retailers,” says Martin Rydén, Technical Leader and responsible for startups at IBM Sweden.
IBM Sweden has initiated an internationally unique and ambitious collaboration program with various serial entrepreneurs.
“We carefully choose and help a number of companies which we believe have a good opportunity to succeed. The most important aspect for us in the selection process is the team’s expertise and the business idea. Our own incentive is of course to increase the use of our technology and our cloud services, ”says Martin Rydén.
IBM contributes with technology, cloud services and acts as advisors regarding technology, business development, production, and marketing.
“We help to speed up the journey by looking at our customer segments and builds networks with our customers and partners,” says Martin Rydén.
IBM is impressed by Indivd’s AI solution
Indivd is a startup which, with the help of AI, builds a deep understanding and insights of all store visitors in physical retail stores. The patented technology makes it possible to identify and re-identify all store visitors and their behaviors over time.
“The technology is based on facial recognition with the existing cameras in stores. We are able to get a deep understanding about all visitors without storing personal data, information all stores and malls are in need of and asking for”
IBM is very impressed by the solution that Indivd has developed.
“Indivd is a really interesting company. Everybody is speaking about AI today but, when it all comes down to it, not many companies have access to real AI competence. That’s where Indivd stands out. They have a solution that’s based on true AI which will be able to deliver incredible benefits for the physical retailers” says Martin Rydén.
One of many new strategic partners
Indivd is also very pleased with the cooperation.
“We talked with many possible technology partners before choosing IBM. They had the best offer on the market. This cooperation will help us speed up the launch of Indivd. IBM is one of many new exciting strategic partners we’ve acquired this year,” says Fredrik Hammargården.
For more information contact:
Fredrik Hammargården, Head of Commercialization, 004673 840 65 27, firstname.lastname@example.org