ThirdEye Gets Back‑Dat Capital from Octopus & True
Round recap: The AI‑security champ ThirdEye just closed a funding round that brought in the big guns—Octopus Ventures, True, and the seed‑level Episode 1 Ventures. The fresh cash will help them beef up their team and tech head‑on to roll the platform out across Europe.
What ThirdEye is actually doing
Think of ThirdEye as a digital detective that lives inside your store’s CCTV. It analyses video streams in real time, spots shoplifters on the spot, and even tells staff when customers start a queue or want help with a product. The result? Lower theft costs, smoother store ops, and happier shoppers.
Why retailers need this AI sidekick
- Existing cameras + in‑store devices = instant shop‑floor insights
- Real‑time theft alerts mean you can catch thieves before they finish their heist
- Data on shopping patterns lets you fine‑tune staff allocation and product placement
According to the BRC Retail Crime Survey, UK stores lost over £500 m to shoplifting between 2016‑17. ThirdEye’s pilot programs show a quick win—its Checkout Theft Detector captured an average of 27 thefts per camera each month.
Founder’s cheerleader moments
“After years of hard work, we’re thrilled to harness this scale‑up capital and bring AI‑augmented stores to life,” says Raz Ghafoor, founder of ThirdEye. He beams about partnering with Octopus and True, some of the UK’s top VC names.
Investor insights
Zoe Chambers, Octopus Ventures’ future‑of‑industry lead gushes: “AI is a game‑changer and ThirdEye already jabs at real problems. They blend tech skill with ambition—talk about a winning combo!”
Oksana Stowe, True’s Growth Principal adds: “Retail is shifting to experience‑led streets, and ThirdEye is ready to shepherd that transition with machine‑learning brilliance. We can’t wait to introduce them to our global network.”
Quick takeaway
- New funding powers a world‑class AI platform that keeps threats out & profits in.
- Retailers can slash theft losses while giving staff more time for the human touch.
- ThirdEye isn’t just another tech startup; it’s a “future‑ready” partner for every high street.
Stay tuned—ThirdEye is on track to turn “store” into the next cool AI‑powered buzzword. Subscribe for real‑time updates on their sprint to retail dominance!
