Most Promising Retail Technology Startups of 2021

ReTech Startup Awards
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Mumbai, September 20, 2021: Retailers Association of India (RAI) instituted the ReTech Startup Awards six years ago to recognise revolutionary retail technology startups that are set to change the fabric of business with their unconventional ideas. ReTech Startup Awards is the only initiative that gives retail technology startups a powerful platform to present themselves in front of actual end-users.

Speaking about the ReTech Awards 2021, Dr. Hitesh Bhat, Director Marketing & Communications, said, Retailers Association of India (RAI) said, “Every year we scope for startups with innovative solutions and this year we were happy that we had a very interesting mix of startups with solutions based on fresh ideas that add value to different formats and functions of retail by addressing some very relevant use cases.”

The three winners of the 6th edition of the ReTech Startup Awards 2021 are:

Winner: Saleassist innov8 Pvt. Ltd

SaleAssist.ai is an AI powered Live Video commerce SAAS solution offering live shopping & live streaming solutions to enhance customer experience & accelerate sales in both Physical & Digital markets. SaleAssist is part of Microsoft, AWS & Nvidia startup program and has received several accolades in the last few years and Featured among “30 early-stage startups that are on the path to disrupting the market” – Inc42.

1st Runner up: PayNearby (Nearby Technologies Pvt. Ltd.)

Incepted in April 2016, PayNearby is a DPIIT-certified company and India’s leading branchless banking and digital payments network. PayNearby operates on a B2B2C model, where it partners with neighbourhood retail stores and enables them with the tools to provide digital and financial services to local communities, thereby boosting digital financial inclusion.

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2nd Runner Up: Fountain9

Fountain9 offers an AI based predictive inventory planning solution (Kronoscope) enabling agile supply chains that can react quickly to any changes on demand or the supply side. They complete the full cycle of predicting SKU level demand, alerting proactively on stock outs and completely automating procurement and replenishment plans. With Kronoscope, they ensure food brands and retail businesses never run out of stock while controlling their inventory cost.

From the applications received this year, 10 retail technology startups were shortlisted by the preliminary jury. The shortlisted applicants presented to the grand jury that comprised experienced retailers with an expansive experience of handling strategic functions, namely Ashwin Khasgiwala, Director, Reliance Brands Ltd. & Chief Operations Controller, Reliance Retail Ltd.; Lalit Agarwal, CMD, V-Mart Retail Ltd.; Subhash Chandra L, MD, Sangeetha Mobiles Pvt. Ltd.

The shortlisted 10 retail technology startups that made it to the finals included:

  1. Cutting Chai Technologies
  2. Easyrewardz Software Services
  3. Fountain 9
  4. Least Count Technology Solutions
  5. PayNearby (Nearby Technologies)
  6. Saleassist Innov8
  7. Shoppingkart24 Online Services
  8. Tango eye
  9. Tone Tag
  10. Zoryboard Software Solutions
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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.