ApyApp has fused the latest machine learning and AI technology with a real-world shopping environment. The result is the ApyStore — a 24/7 on-demand retail space featuring a fun, game-like built-in rewards system and achievements without checkouts or staff.
Pivoting from retail to procurement
ApyApp pitched its solution to the University of Melbourne and uncovered a game-changing new opportunity. The university and its industry partners were seeking a solution to track the use of its chemical and lab consumables to reduce operating costs and enable 24/7 availability of products for researchers. ApyApp had the agility, R&D capital in the form of Radium Advances, and customer-focused mindset to successfully deliver the procurement solution the University of Melbourne and its partners needed within a few weeks.
Solving the start-up capital conundrum
After securing seed funding from a group of investors and a NSW Government maximal MPV grant, capital and cash flow began to dry up for ApyApp. Then ApyApp’s co-founders heard about Radium Advances and soon put their funding woes behind them. By reinvesting several Radium Advances into its smart-store R&D, ApyApp accelerated its innovation, capturing new markets and opportunities.
ApyApp Co-founder Artur Daylidonis says, “Radium Advances have played a major role in helping our start-up become a scale-up with exponential growth that will see our market valuation reach over $100 million within two years of launching.”
Now, ApyApp is growing sales of its procurement product and investing in more R&D to enhance its technology. The smart-store pioneer will also return to its original retail offering with two exciting opportunities in remote and regional Australia, later this year.
Download the case study to discover how ApyApp reinvested Radium Advances to increase its cash flow and trigger exponential growth.
For more information on ApyApp, visit the ApyApp website.