DeepMagic at a Glance DeepMagic provides automated, unattended checkout-free shopping experiences. This “mini store” can be placed in stand-alone locations such as hotel lobbies, college campuses or inside a retailer to create a “store-within-a-store” experience. The company has developed a checkout system called the Qick Kiosk to enable tap-and-go transactions and payment. The company’s proprietary technology uses AI to recognize products and shoppers, track transactions in store and automatically charge the basket to the shopper's credit card. DeepMagic partnered with Cisco System to open an unattended Cisco Mini Store to sell electronic products DeepMagic’s value proposition is to make shopping easy and frictionless through tap-and-go checkout at a cashierless, secure, unattended 24/7 kiosk – and the ability to bring retail into new environments where people live, work and play. [caption id="attachment_78442" align="aligncenter" width="620"] Source: Left: Global Payments and DeepMagic internal documents
Right: DeepMagic’s Cisco Mini Store[/caption]   What Problem Is the Company Solving? Today’s consumer values convenient experiences and craves experiential retail. This "mini-store" lets gives brands an easier way to connect with customers without having to invest in the normal high initial cost and long-term leases associated with the usual physical retail options. The company enables retailers to run stores unattended for less cost with extended hours – with an automated customer experience including check-out and security. The stores can also extend reach into new areas such as hotel lobbies, university campuses, gyms, commercial office buildings, malls, etc. The Qick Kiosk can also be embedded inside a retailer as a “store-within-a-store” for new product introductions and pop-up stores. Headquarters New York City. Funding Stage Seed. Business Model DeepMagic charges a one-time charge followed by an ongoing software-as-a-service monthly fee. Management Team Dr. Bernd Schoner, CEO. Dr. Davi Geiger, CTO. Company Outlook DeepMagic deployed its first commercial kiosk with Cisco in 2018 and has signed distribution deals with a major payment processor, a multinational beverage manufacturer and a large global retailer, among others, according to the company.