Notification regarding Investment in New Zealand's Company "IMAGR"

January 23, 2020
Toshiba Tec Corporation

Toshiba Tec invested US $ 5.0 million in IMAGR Holdings Limited (Headquarters: New Zealand, CEO: William Chomley, hereinafter “IMAGR”), which develops AI Cart Systems for retail stores.

IMAGR was founded in 2016 and is a startup company that develops and provides an AI cart system that recognizes images of products placed in baskets by shoppers on the spot, with computer vision and AI technology at the core.
In addition to its strength in image recognition accuracy, it has a system configuration that is easy to install and operate in existing physical stores. The system is being experimented at actual stores in New Zealand.

As announced in our mid-term business plan, we are working to strengthen our labor-saving solutions in the retail solutions business. The investment was based on the idea that by combining IMAGR’s and our own resources we could create new synergies and strengthen solutions in our retail solutions business.

Toshiba Tec will expand its solutions business by utilizing such open innovation.