365 Acquires Stockwell’s Smart Store Locations and Technology

365 Retail Markets is expanding its micro market and technology presence by acquiring Stockwell, an Oakland, California-based company which deploys compact smart stores in locations such as universities, multi-family residential buildings and work spaces. It currently has 1,000-plus locations in the San Francisco Bay area, Los Angeles, Houston and Chicago.

Stockwell’s retail platform focuses on artificial intelligence, machine learning and computer vision. 365 intends to hire select team members and integrate the technology platform into the 365 Point of Sale systems.

“The future of retail is unattended. By adding the Stockwell tech platform to the 365-product ecosystem we are moving closer to our goal of a low-cost, frictionless retail experience,” said Joe Hessling, CEO of 365 Retail Markets. Hessling added that existing Stockwell locations will continue to be serviced.

“Stockwell has leveraged computer vision and machine learning in a way that will have a dramatic impact on our industry. I believe that combined with the 365 platform, in time, we can scale to meet the global demand for frictionless, unattended retail,” said Krishna Vedula, 365 Retail Markets, COO & CTO.

365 intends to spend the next few months upgrading the technology for existing customers and locations. The long-term plan is to use the patented technology as a base for several new products to be available to the market in 2021.

For more information, visit www.365retailmarkets.com.

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