Retail-tech startup Zoyi has attracted 4.5 billion (USD $3.97m) in Series B funding from four venture capital firms, including Japanese VC company Global Brain which lead the deal. Zoyi develops technology to improve both online and offline shopping experiences and currently operates two services, ‘Walk Insights’ and ‘Channel’.
Walk Insights gives analysis of customers who have visited stores, something that is usually only possible with online stores. It does this through special sensors that were developed in-house and monitor the number of customers in the store, how long they stay and whether they are return customers. Since launching in 2014, various retail companies such as Samsung Electronics, Fila Korea and Innisfree have been using the technology and is also installed in major commercial areas in 20 countries.
The startup’s other product Channel is an online communications solution for offline retail locations, connecting staff with customers more easily. If installed on a company’s website, customers can click on an icon on the instantly start chatting with customer service representatives. The startup has seen success, with over 3000 companies and online shopping malls using Channel to improve service for customers.
Global Brain partner Nobutake Suzuki says that it initially took notice of Zoyi growing its customer base around leading retail brands in Korea and Japan. “Going forward, we’ll help Zoyi with fast global growth, starting with Japan.”
All up, Zoyi has now attracted a total of 6.8 billion won in funding including investments from Korea Investment Partners, Bon Angels Partners and AJ IBU Investment.
“Over the last three years, Walk Insights has established itself as Asia’s leading customer big data analysis service,” says Zoyi CEO Siwon Choi. “We plan to expand into marketing and CRM areas based on our big data analysis.”
