Reckon.ai raises €5.1 million to accelerate retail revolution with AI-powered smart cabinets
The Portuguese startup, based in Porto, has developed smart cabinets that use artificial intelligence and computer vision to offer a convenient, checkout-free, and humanless shopping experience.
With this funding round, Reckon.ai plans to accelerate its international expansion, enter new market segments, and enhance the features of its smart cabinets.
Reckon.ai has now raised more than €8 million in total investment.
Porto, July 29, 2025 – Reckon.ai, a startup based in Porto, has raised €5.1 million in a funding round led by Iberis Capital, with participation from Alea and Touro.
Since its founding in 2017, Reckon.ai has raised around €8.5 million. The company developed a pioneering, patented technology built on Artificial Intelligence that transforms physical equipment—like cabinets, fridges, or shelves—into intelligent micro-stores, enabling consumers to shop autonomously with no need for checkout.
Initially focused on transforming the shopping experience in grocery retail, Reckon.ai now aims to bring its tech to other segments with demand for autonomous shopping solutions—such as pharma, cosmetics, and electronics—while strengthening its presence in key European markets and ramping up activity in the United States.
Using AI and computer vision, Reckon.ai created smart cabinets that allow a fully autonomous shopping experience. Consumers can unlock them with Reckon.ai’s white-label app, the app of the host client, or by tapping a debit or credit card. Once opened, they can pick their product and close the door—no need to stop to pay or interact with anyone. If a customer decides not to purchase, they can simply return the product to the cabinet with no obligation.
Reckon.ai’s technology offers a more convenient and streamlined way to shop, making it ideal for convenience stores, train stations, service areas, hospitals, airports, shopping malls, sports venues, and more.
Today, Reckon.ai’s technology is already used by major retailers including Jerónimo Martins (Pingo Doce), Carrefour, Sonae (Continente), IKEA, Rewe, Lekkerland, and Petit Forestier, among others.
“At Reckon.ai, our mission is to redefine how consumers shop—making it simpler, more intuitive, and more practical. This investment marks a pivotal moment for us as we scale globally and keep innovating. We’re excited to bring the future of retail to more places and sectors, empowering businesses and surprising consumers,” says Ana Pinto, CEO of Reckon.ai.
“When considering a purchase, customers like to see the product in their hands. Reckon.ai makes that possible while maintaining autonomous shopping, anytime and anywhere. These cabinets are also scalable and cost-efficient. We’re thrilled to support the company’s investment and global expansion,” says João Henriques, Partner at Iberis Capital.
“At Alea Capital Partners, we’re proud to support Reckon.ai’s retail transformation through smart automation. Our €2 million investment reflects our confidence in the company’s growth potential and aligns with our strategy to back B2B SaaS companies with strong product-market fit, scalable technology, experienced teams, and a clear path to international expansion. We’re excited about the rising interest from major retailers and Reckon.ai’s disciplined growth approach, which we believe will unlock significant value in the coming years,” says Rui Escaleira, Co-founder of Alea.
“Reckon.ai has a highly scalable product and a compelling value proposition that will help revolutionize retail. We’re excited to join this journey and once again support Portuguese companies that are innovating and leading the way—even in the world’s most demanding markets,” says Paulo Pio Correia, Managing Partner at Touro Capital Partners.
About Reckon.ai
Reckon.ai is a Portuguese SaaS startup founded in 2017 that has developed patented technology to turn ordinary cabinets, fridges, and shelves into smart units. This allows consumers to shop autonomously, with no need for checkout. Headquartered in Porto, Reckon.ai is currently active in over ten international markets. Learn more at Reckon.ai.
About Iberis Capital
Iberis Capital is a leading private equity and venture capital firm in Portugal, founded in 2017. With over €600 million in assets under management and more than 1,250 investors, Iberis combines deep market knowledge with a collaborative approach, working closely with founders and investors to create long-term value. Learn more at iberiscapital.com.
About Alea Capital Partners
Alea Capital Partners is an alternative assets investment firm focused on structural gaps and long-term macro trends, operating in Southern Europe, starting with Portugal. Alea is currently executing three investment strategies: Alternative Housing Solutions, Industrial Consolidation, and Venture Capital. Through its Alea Innovation One FCR fund, Alea is investing €35 million in B2B SaaS companies with strong product-market fit, scalable technology, experienced teams, and a clear path to growth and international expansion. Learn more at aleacp.com/venture-innovation. The investment is made via Alea Innovation One FCR under the Portuguese Recovery and Resilience Plan (PRR), supported by Banco Português de Fomento.
About Touro Capital Partners
Touro Next is a venture capital fund managed by Touro Capital Partners, focused on early-stage investments in high-potential tech companies. Operating from Portugal with a global ambition, the fund targets highly qualified founding teams and backs disruptive solutions in AI, health and wellness, biotech, industry, and sustainability. Touro combines capital with an experienced, complementary team to maximize the economic and technological impact of its portfolio companies.
