ITAB and Signatrix created frictionless security deterrents that reduce product loss, specifically in the checkout area. Credit: ITAB Group.

Retail technology provider the ITAB Group has announced a strategic investment in German retail AI startup Signatrix.  

The companies began a partnership in 2022, which led to the development of frictionless security deterrents aimed at reducing product loss within the retail sector, focussing on the checkout area. 

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This collaboration is now set to deepen, with ITAB looking to integrate Retail AI into its technology platform to create solutions and explore business expansion opportunities in the grocery, DIY and other retail sectors.  

With ITAB’s minority investment, ITAB and Signatrix can enhance their existing AI solutions for loss prevention and explore new applications across a range of in-store scenarios.  

This is expected to improve customer experiences, reduce operational costs for retailers and further increase employee efficiency, in conjunction with ITAB’s OnRed platform. 

Signatrix specialises in leveraging AI to transform the retail industry. Its technology is already implemented in thousands of European stores, with retailers benefiting from great security, sales improvement and increased employee productivity.

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ITAB president and CEO Andréas Elgaard stated: “ITAB is determined to help our customers design great in-store experiences to drive sales and conversion as well as delivering more efficient stores that reduce the cost of operation.  

“We know that technology plays a critical role in our solutions today, but we will see even greater use of technology across consumer missions and operating models in the physical store of our customers in the future.  

“With the aid of innovative AI algorithms, Signatrix helps retailers in real-time to understand and keep track of what is happening in their stores. This technology enables us at ITAB to develop and offer truly unique and competitive advantages for our customers utilising our in-store technology solutions.”