Countdown to Groceryshop 2019: Innovator Spotlight Profiles — Oriient
- The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas. The conference is expected to bring together over 3,000 attendees and more than 200 speakers.
- We’ll be talking about the transformation of the retail industry, shifts in consumer behavior and innovations that are helping retailers keep up with fast-changing consumer expectations.
- On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight session in which 20 innovative, early-stage technology companies (pre-Series A) will present solutions that solve major retail problems. The companies include: Adrich, Datasembly, ShopperMotion, Simporter, Oriient, Pick ‘n’ Watch, SuperUp, Tastry, Tiliter Technology, BrandChat, CoupDog, RetailAware, Shopperations, AGTools, Babylon, Gather AI, Leaf Logistics, Macondo Ventures, MeisterDish and Simplista.
In this report we profile Oriient, a company uses the Earth’s magnetic field and smartphone sensors to provide positioning services.
This report is part of our 2019 Countdown to Groceryshop: Innovator Profiles series. To view the other reports in this series, click here.
The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas.
The conference is expected to bring together over 3,000 attendees and more than 200 speakers. Discussion topics will include the transformation of the retail industry, including convenience stores, supermarkets and e-commerce, and changes in the production and distribution of CPGs across multiple retail verticals.
The event also covers the rapid shifts in how consumers discover, shop and buy — from the use of new technologies and business models to the latest shopper trends.
Emerging Technology Spotlight Session
This is the second year the Coresight Research team will support Groceryshop’s early-stage technology startup event: On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight, which features 20 innovative technology companies presenting their solutions to solve major retail problems.
Groceryshop selected the participating startups based on their solutions, looking for companies that solve some of the most pressing challenges in grocery, e-commerce, food and CPG. All participating startups offer business-to-business (B2B) solutions. Over 130 companies applied to present at the event: From that group, we selected the 20 using a rigorous vetting process.
These are some of the selection criteria:
- Early-stage, defined as pre-series A funding.
- Relevant to the grocery and/or CPG industries.
- B2B solutions (not consumer-facing).
- Scalable (good growth prospects).
- Highly innovative (deep differentiation).
- Important (solving a major industry problem).
The companies span several countries, although most are based in the US:
- US: 14
- Canada: 2
- Israel: 2
- Australia: 1
- Spain: 1
We categorized the 20 companies into four buckets of retail disruption:
Data and Insights: Digital technology is creating new metrics and capabilities to glean insights and understand the best way to meet and exceed customer expectations.
Improved Shopping Experiences: Shoppers demand intuitive and more seamless grocery experiences, both online and in-store. Grocery retailers face challenges in keeping their assortment up to date and in sync with fast-changing consumer demand.
Next Generation Marketing: With so many different touchpoints and channels to reach consumers, engagement has become more complex than ever. And, there are rapid shifts in how consumers discover, shop and buy. New marketing technologies help grocery retailers and CPG’s engage and acquire customers.
Operations and Supply Chain: Over the next few years, new omnichannel grocery offerings will likely go mainstream, giving consumers new experiences as well as more convenient delivery and pickup options. Simultaneously, technologies such as robotics, AI and IOT are changing how grocery items move from producer to store to consumer.
Oriient at a Glance
Founded in 2016, Oriient uses magnetic fields and smartphone sensors to provide indoor positioning services. With the objective to make the physical world searchable, Oriient provides businesses like retailers, airports, office buildings, megastores, malls and wholesalers with the ability to allow their customers to navigate larger areas and identify items – all with a mobile device. The solution does not require hardware installation: instead of using beacons or WiFi, it is based on Earth’s magnetic field and users’ smartphones.
Many malls, for example, already offer visitors free dedicated apps that enable them to do a store or product search. Adding Oriient to that app can provide an indoor positioning service to guide the shoppers directly to the store and the shelf. It’s enterprise customers use the GPS technology by integrating into their existing mobile app. Its solution helps companies improve service, space utilization, staff performance and operations.
What Problem Does Oriient Solve?
Retailers want to guide consumers to products and want this to be as straightforward as possible. However, most indoor positioning systems require companies to buy and install additional devices and systems into their stores – and as is the case for most products, low-cost solutions are not as effective as very expensive ones. Oriient’s solution is easy to deploy, does not require additional hardware installation or maintenance.
CEO and Cofounder Mickey Balter has over 20 years’ experience using technology to solve business challenges. He cofounded Veloquity Systems and Scientra before setting up Oriient. Balter holds a master’s degree in business administration from Tel-Aviv University.
CTO and Cofounder Amiram Frish worked as an algorithms and architecture leader at Motorola Solutions for seven years before cofounding Oriient.
Stratistics MRC estimates the global indoor location market was worth $3.43 billion in 2015 and is expected to reach $29.4 billion by 2022, growing at a CAGR of 35.9% from 2015 to 2022.
In April 2019, Oriient received $4 million funding from F2 Capital and Innogy Innovation Hub.