Fairmart has secured a lead investor, and are looking to raise follow on funding.
Physical stores are losing US$4.5 billion in sales to digital competitors each year because their products are not searchable online. This problem exists because current solutions are made for ecommerce, and not for physical stores. As a result, only 12% of store inventory is listed online, leading to lost sales opportunities.
Fairmart solves this problem by using an IoT device to automatically digitize products and lists them on relevant sales channels. In 6 months, the team has built a solution consisting of both hardware and software, deployed it over 50 stores, and grown MRR at 120% MoM.