The company recently completed several large-scale pilot projects for its Internet of Things (IoT) device, which allows companies to use real-time data analytics to create personalized customer engagement, leading to increased profits.

With the success of the pilot testing, several of Fobi’s partners are expanding the pilot scope by adding digital receipting, wallet pass applications, digital activations, and promotions.

Rob Anson, Fobi CEO, commented on the successful pilots.

“Despite the challenges presented by the pandemic in getting our pilot tests adequately evaluated by our major international retailers,” he said, “I am happy to report that multiple pilots have successfully made it over the finish line.”

“2021,” he added, “is on track to be the year Fobi becomes a major global player in the world of real-time data analytics.”

The company has also added over $10.42 million in working capital this year, including a $7.42 million private placement and warrant exercises.

Passcreator, a Fobi subsidiary, generated over $160,000 of revenue in the first quarter, one of the most successful quarters in its history.

Fobi AI is a Vancouver-based technology company that has developed a proprietary platform that harnesses the power of AI to deliver retail insights to brands and brick and mortar businesses.