Magnetto intends to challenge the traditional retail business by automating the checkout process and eliminating long queues via its app. The company allows shoppers to scan and pay for goods with their smartphones and skip queues using smart gates. The app also claims to facilitate indoor navigation with product locators and allows users to avail loyalty schemes. Magnetto asserts that the commercial rollout of its app has begun with the company planning to develop fully automated stores for one customer with its hardware partner, Modern Expo. Magnetto was nominated for an award at the London Smart Retail Tech Expo. The company intends to become a contender in the retail automation market that is projected to reach $23.58 billion by 2026. Magnetto aspires to connect fully with retail giants like Amazon and Sainsbury's and help them experience automated retail sales seamlessly. The company state it will use the investment to develop new features, grow its team and acquire more customers.
/* OVERVIEW */ ?>
Magnetto Rating Review
Pitch rating powered by CROWDRATING™
Rated on 17/08/2021
Log in to view target
£2,320,494
pre-money valuation
8.52%
equity available
381
investors
£579
pledge per investor
11970001
company number
Active
company status
30/04/2019
incorporated 5 years
£0.90
share price
Previous Funding rounds
28 Mar 24 | Crowdcube | £220,431 / 147% | 44.67% |
News
Héctor Magnetto - Bloomberg Línea English
17/09/2023 Bloomberg Línea English
Troy Police Assistant Chief Anthony Magnetto retires after 35 years on the force SLIDESHOW - Troy Record
04/06/2011 Troy Record
Troy police commissioner Anthony Magnetto resigns - Times Union
18/01/2014 Times Union
City of Troy Police Commissioner Anthony Magnetto to retire next month - Troy Record
17/01/2014 Troy Record
Valuations in Technology
Wi-Fi Securities Limited | £9.1M |
Morgan Goodwin Limited | £5.6M |
UTU Technologies | £5.0M |
Doqit | £1.3M |
What the ratings mean
RISK WARNING - The ratings are based on the information provided in the fund raiser’s pitch deck, business plans and financial forecasts which have appeared on a FCA regulated crowdfunding site. Where possible we validate the business plan to public sources such as LinkedIn, Companies House, Credit Agencies and internet searches. We cannot guarantee the information is correct. The ratings report takes no account of the investors/ individual circumstances. Do your own due diligence and get professional advice before investing. Your capital is at risk when investing in private companies.