London-based retail security platform ThirdEye raises £2million

Keiligh Baker's picture

London-based start-up ThirdEye has built intelligent computer vision software that it claims will help retailers and their staff to prevent up to £56 billion in theft.

Founded in 2016, the company has just raised over €2.3 million from London-based European venture capital firm Octopus Ventures with participation from True and existing seed investor Episode 1 Ventures.

The capital will be used by ThirdEye to strengthen its team and proprietary technology platform in preparation for a wider commercial roll out across Europe.

“ThirdEye has developed technology that is already making a real difference to retailers across the country,” said Zoe Chambers, future of industry lead at Octopus Ventures.

“Raz, Peter and the team have shown that they are a fantastic combination of highly technical and very ambitious. They truly understand how to build innovative technology to serve a compelling customer problem and I look forward to seeing ThirdEye go from strength to strength over the next few years.”

“As investors in fit-for-the-future retail solutions we’re excited to have invested in a machine-learning platform with the potential to save the retail industry millions of pounds,” said Oksana Stowe of True. “We believe traditional bricks and mortar is transitioning to being experience-led, and ThirdEye is uniquely positioned to support continued activity on the high street and play a significant role in shaping the technological make-up of stores.

"We look forward to introducing ThirdEye to our extensive network of global retailers and supporting the team’s growth plans.”

Search our marketing and digital jobs board

Search the latest vacancies on our dedicated jobs page.