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November 9, 2018

Sodexo Ventures invests in AEYE-GO smart visual checkout systems

Global foodservice company Sodexo has partnered with Chinese start-up technology company AEYE-GO to expand smart visual checkout systems for restaurants.

Global foodservice company Sodexo has partnered with Chinese start-up technology company AEYE-GO to expand smart visual checkout systems for restaurants.

To facilitate this expansion, Sodexo, through its venture capital arm Sodexo Ventures, has made an investment in the technology company.

AEYE-GO will use Sodexo’s geographic reach to expand its operations in China and internationally. The company has piloted its checkout systems at Sodexo sites in Shanghai.

Sodexo chief digital and innovation officer Belen Moscoso Del Prado said: “The partnership between Sodexo Ventures and AEYE-GO in China is an exciting development in our digital journey, and demonstrates our commitment to working with start-ups in local markets with potential to transform the industry.

“We are proud to partner with the creative team behind AEYE-GO to bring artificial intelligence and the power of data to our industry.”

“The AEYE-GO solution promotes healthy eating choices, enhances the consumer experience, no need to wait in a check-out line or carry cash, badge or mobile in the restaurant, and helps clients optimise sourcing and reduce food waste.

“China is an epicentre of innovation, and we are proud to partner with the creative team behind AEYE-GO to bring artificial intelligence and the power of data to our industry.”

Powered by AI image recognition technology, AEYE-GO offers tray and facial recognition options for personalised check-outs.

The platform uses high-definition cameras to integrate machine learning software for food recognition and offers price and nutritional information automatically by scanning the customer’s tray.

Additionally, Sodexo recently reported total revenues of €20.407bn for the fiscal year ending 31 August 2018, a 1.4% decline compared to revenues of €20.698bn during the previous year.

Operating profit of the company was €997m, a 16.1% decline compared to €1,189m last year.

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