Provider of mobile-based, in-store retail devices, Padlock, has officially changed its name to Aila Technologies. In addition, the company announced financing from Romulus Capital of $4.5m. Aila provides custom mobile devices retail technology including barcode imaging and store-ready designs.
A Harris Interactive report found that staff fail to answer consumer questions 50% of the time. However, 90% of consumers surveyed said they would return to a store if staff would be more helpful. Aila’s Mobile Imager helps staff answer those questions by scanning products and instantly checking inventory. The company also offers an Interactive Kiosk solution for tablet devices.
Aila Technologies’ products simplify in-store retail processes
Jason Gulbinas, CEO and Co-founder, Aila Technologies, says:
“The financing from Romulus Capital represents an important milestone in the growth of Aila and a major step in accelerating the adoption of our innovative retail technology solutions that can instantly transform tablets and other mobile devices into interactive kiosks, associate handhelds, point-of-sale terminals, and digital advertising portals. The shift to mobile devices is happening throughout the store – from the aisle to the check-out to the dressing room – and Aila is positioned to become the core infrastructure of the connected retailer.”
Aila has been working with tech companies including IBM to customise its retail technology and is testing it across four of the top 20 US retailers. Turning Apple devices into functional retail helpers improves the in-store experience for both consumers and staff. The latest investment will help Aila to scale faster and expand its tech innovation.
Krishna Gupta, Founder, Romulus Capital, adds:
“Our significant investment in Aila demonstrates our high level of confidence in the company’s senior management team, its impressive technology portfolio, and the overall market opportunity that exists in retail stores. The best brick-and-mortar retailers won’t disappear, but they are adapting and looking to leverage a suite of mobile technologies. Aila is the glue that holds that hardware and software suite together. We love companies solving problems in large verticals and we’re impressed with Aila’s progress and positioning today.”
With the holiday season approaching fast and predicted to reach $630bn in retail sales in the US, over 92% of purchases will happen in-store. Matthew Kowalczyk, CTO and co-founder, Aila Technologies, explains:
“Brick-and-mortar retailers have turned to Aila to help them become more strategic in integrating technology into the overall shopping experience. Improving and understanding customers’ in-store shopping experience is an important component of leading retailers’ strategy. Savvy customers expect rich digital experiences that help inform their purchasing decisions while retailers can use the resulting data to help increase sales.”
Aila Technologies says that it changed its name because it wanted to emphasise its objective of how omni-channel experiences are delivered. The new name is effective immediately.