DeepMagic’s patent-protected AI and Computer Vision enables Tap-Grab-Go transactions and payment at unattended, 24/7, points-of-sale. Shoppers tap their credit card at the store door, grab products off the shelves, and then just go.
DeepMagic deployed its first commercial store with Cisco Systems in 2018 and since then has partnered and deployed AI-powered POS systems with multinational CPG's (e.g. PepsiCo), payment processing providers (e.g. Global Payments) and retailers (e.g. Lojas Americanas/Brazil). DeepMagic is addressing a market with a Total Addressable Market of $150B+ in annual transaction volume.
Based in New York City, DeepMagic was founded by Bernd Schoner and Davi Geiger, experienced entrepreneurs with PhDs from the MIT Media Lab and the MIT AI Lab respectively. They have been joined by a team of FinTech, CPG, and retail tech executives.
DeepMagic’s flagship product, the Qick Kiosk, is a walk-in store that enables 24/7 grab-and-go retail transactions for the consumer. The Qick Kiosk accepts advanced payment options such as contactless card payments (NFC), Apple Pay, and Google Wallet. The combination of seamless credit card processing and DeepMagic’s high-accuracy AI-powered transaction monitoring creates a truly frictionless shopping experience for both consumers and operating merchants. The owners and merchant partners of Qick Kiosks enjoy the operating benefits of a vending machine and the product diversity and customer experience of a small retail store. DeepMagic deployed its first commercial store in collaboration with Cisco Systems in 2018. Since then DeepMagic has partnered with multinational CPG's (e.g. PepsiCo), payment processing providers (e.g. Global Payments) and retailers (e.g. Lojas Americanas/LASA) to scale its technology and deployments. DeepMagic has also signed agreements with international partners to deploy Qick Kiosks.
We have identified more than 1.7 million potential locations and $150B+ in annual transaction volume in our top four US segments: hotels, residential apartment buildings, commercial office spaces, and university campuses. There are many potential use cases where operators can open unattended, micro-businesses. We believe the most compelling ones are:
1. Commercial buildings and offices – Serving tenants of commercial office buildings and enterprise campuses with convenience micro-markets
2. University campuses and residential buildings – Serving tenants of residential apartment buildings or students in college dorms
3. Hotel Sundry Stores – Serving the guests of hotels and B&Bs
4. Transportation Hubs – Serving travelers at airports, bus & train/commuter rail stations and other transportation hubs.
5. Store in a Store – Selling merchandise inside larger retail establishments e.g. a Louis Vuitton kiosk inside a Macys store
6. Pop-Up/Seasonal Stores – Deploy quickly for product launches, seasonal promotions or related campaigns
7. Beachhead Stores – Test new markets for eventual expansion with a larger attended store.