• Fobi (FOBI) has been granted a U.S. patent for its internet of things (IoT) hardware
  • The Fobi hardware device is used for receipt scanning, edge to cloud computing, and injection of coupons, QR codes, and other real-time, personalized marketing for point of sale (POS) systems
  • Receipt data collection and sales analytics can offer retailers enhanced visibility into product performance, especially in industries where products are sold to many unrelated retailers with legacy POS systems
  • Fobi AI Stock (FOBI) opened trading at $0.385 per share

Fobi (FOBI) has been granted a U.S. patent for its internet of things (IoT) hardware.

The Fobi hardware device is used for receipt scanning, edge to cloud computing, and injection of coupons, QR codes, and other real-time, personalized marketing for point of sale (POS) systems.

The patent application covers:

  • Receipt capture for sales analytics
  • Conversion of raw receipts into structured, actionable data
  • Attribution of customer data with receipt transactions
  • Individual purchase history trends segmented by customer
  • Alerts to store operators based on spikes in sales of particular products
  • Universal rewards programs across unrelated retailers and brands
  • Aggregated data from retailers provided to consumer packaged goods manufacturers
  • Digital storage of receipts, eliminating the need for physical copies

Receipt data collection and sales analytics can offer retailers enhanced visibility into product performance, especially in industries where products are sold to many unrelated retailers with legacy POS systems.

Rob Anson, CEO of Fobi stated that the team has developed valuable technology and works to protect that tech and keep the “product moat” that they have created.

“I have always been about future-proof solutions and this is exactly the approach we took with the specific claims and filings we made in our original patent submissions. Not only does the overarching value of our solutions significantly increase as a result of being granted our first patent, but I believe this successful grant can help us create even more value as numerous industries and applications have rapidly evolved and deployed over the last few years, and companies simply would not have been aware of our original filing and now patent. This scenario can provide a means to generating additional organic license fees and several new business opportunities.”

He added that now that the company has been granted a U.S. patent, the focus will move to close out the Canadian and international patent submissions.

“We put a great deal of protection into our filings to cover various blockchain and crypto applications, digital and personalized coupon activation, and creating a means to connect and aggregate the siloed and fragmented world of independent retail.”

The team believes that this creates favourable outcomes for similar patents pending in Canada and Europe.

Vancouver-based Fobi is an AI and data intelligence company that leverages and monetizes customer data by powering personalized customer experiences.

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