Customer Clever scoops £150,000 for facial recognition technology
Mercia Fund Management-investment will support development of algorithm which determines gender, ethnicity, age and time of visit of customers
Facial recognition tech developer Customer Clever Ltd is set for expansion after receiving an initial £150,000 in a Seed Enterprise Investment Scheme (SEIS) round backed by Mercia Fund Management (MFM).
Founded in 2014, Customer Clever has created a cloud-based software algorithm which can determine the gender, ethnicity, age and time of visit of a person.
Having been primarily used in homeland security, border patrol and counter terrorism, the Staffordshire start-up has further developed its technology to help retailers, leisure venues and shopping malls to better understand customers and their habits.
It will be using the funding to “begin initial sales” and explore other extensions to maximise customer benefits such as sending SMS alarms to managers whenever an underage customer enters the premises and so on.
Customer Clever CEO, Adam Whitchurch, said: “We are grateful to Mercia for this investment.
“Customer Clever offers an innovative solution to help businesses improve their marketing strategy, whilst providing a tailor-made, unique shopping experience for their customers.”
On the market opportunities, MFM’s Rob Johnson, commented:
“We believe the biometrics sector will experience significant growth over the next decade, and Customer Clever is well placed to take first mover advantage with this innovative application within this growth industry and potentially establish a significant market share.”