Micromart

What Micromart does

Micromart is a Toronto-headquartered hardware-and-software company that sells autonomous retail 'Smart Store' cabinets to independent operators who place them in high-traffic locations such as apartment buildings, offices, gyms and industrial sites across North America. Its core product is a modular, single-door cabinet family — Smart Fridge, Smart Pantry and Smart Freezer — equipped with three ultra-wide computer vision cameras, an integrated payment terminal (Stripe, Apple Pay, Google Pay), LCD display, electronic price tags and multi-carrier cellular connectivity with automatic failover. Customers tap a card, open the door, take items and walk away; vision sensors detect what was removed and charge accordingly, with a claimed 99.5% detection accuracy, 99.9% transaction payout and store uptime, and a Revenue Protect Program under which Micromart absorbs the cost of any misdetection.

Micromart monetizes through three layered streams: upfront hardware sales ($6,295 per Fridge/Pantry, $6,995 per Freezer, with a $5,995 bulk discount for 3+ units, plus accessories such as $70 product pushers, $20 SIM cards and Fixturelite premium surrounds), a $60-per-cabinet-per-month software platform subscription that bundles inventory, analytics, pricing and tax automation, and per-transaction fees of 4% plus $0.10–$0.15 with an additional $0.05 cellular surcharge where applicable. A 36-month lease-to-own program broadens access to undercapitalized operators. The platform is operated through an indirect, channel-partner model: Micromart recruits and enables operators via the Vendingpreneur community, free Marketing Kit and 3D Visualizer, sales training and a profit calculator; operators in turn sign multi-year revenue-share agreements with property managers and developers (e.g., $1,000 signing bonus plus 5% revenue share).

The company was founded in 2023, raised a funding round led by Eniac Ventures in January 2025, and is led by co-founder and CEO Yang Yu alongside co-founder Aditya. As of the most recent disclosures Micromart reports more than 2,000 Smart Stores deployed across North America and an average operator revenue of roughly $13,000 per machine per year (with top-performing cabinets at ~$4,000/month). The product surface is expanding with a consumer app in development, a partnership with Fixturelite for premium surrounds, and customer wins in non-traditional venues including CrossFit gyms, manufacturing facilities, and government buildings.

Name

Micromart

Legal name

Micromart Inc.

Website

https://micromart.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Micromart designs and sells AI-powered autonomous Smart Store cabinets — computer vision fridges, pantries and freezers — to independent operators who deploy them in residential, office, gym and industrial locations across North America. The company earns revenue from hardware sales, a per-cabinet software subscription and per-transaction processing fees.

Ownership category

akta.pro rank

Product category

Autonomous Retail Hardware

NAICS

Convenience Retailers (445131), Commercial and Service Industry Machinery Manufacturing (333310)

SIC

Retail-Convenience Stores (5412)

akta.pro primary industry

Automated/Unattended Convenience Stores (Smart/Checkout-Free) (CRAHABAK)

Keywords

• Autonomous retail hardware
• Smart vending machines
• Computer vision checkout
• Unattended micro markets
• Self-service retail

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Sales: Sale of Smart Fridge, Smart Pantry, and Smart Freezer units. Smart Fridge/Pantry priced at $6,295 (or $5,995 for 3+ units); Smart Freezer at $6,995. Operators can also opt for lease-to-own over 36 months.
2. Software Platform Subscription: Monthly software fee of $60 per cabinet for platform access, remote management tools, inventory management, analytics, and automated tax handling.
3. Transaction Processing Fees: Payment processing fees deducted from each transaction: 4% + $0.10 for orders under $8; 4% + $0.15 for orders $8 or more. Plus $0.05 per transaction for cellular data if not on Wi-Fi.
4. Accessories and Add-ons: Product pushers at $70 per shelf, SIM cards at $20 per cabinet, inside delivery and installation services, Fixturelite surrounds for premium aesthetics.
5. Professional Services: Implementation fees ($60 per cabinet), inside delivery with pre-assembly ($400-$800 freight plus service fee), and training/onboarding services for new operators.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels10 records

Core offering

Micromart designs, manufactures, and sells AI-powered autonomous Smart Store hardware units (Smart Fridge, Smart Pantry, and Smart Freezer) equipped with computer vision product recognition sensors, paired with a cloud-based management platform and integrated contactless payments. The company enables independent operators to deploy frictionless unmanned retail in high-traffic locations such as apartment buildings, offices, gyms, and industrial facilities, where customers tap a card, grab items, and walk away while the system automatically detects and charges for products taken. Revenue is generated through hardware unit sales or leases, a monthly per-cabinet software subscription, per-transaction processing fees, and accessories.

Product overview

Micromart offers a unified autonomous retail solution called the Smart Store, consisting of purpose-built hardware units (Smart Fridge, Smart Pantry, and Smart Freezer), an intelligent software platform for multi-location management, and integrated payment processing. The hardware units are modular, single-door cabinets designed to work together seamlessly as a single store. Operators manage all locations from the cloud-based Platform, which provides inventory management, analytics, and pricing controls. The company also offers a customer app (in development), 3D Visualizer for placement planning, marketing assets, and a lease-to-own financing program.

Differentiator

Problem solved

Functional benefit

Products and services

• Smart Fridge Refrigerated autonomous retail cabinet that holds cold beverages, fresh food, and snacks. A single-door unit with product recognition sensors, integrated payment terminal, and LCD screen that functions as a versatile combo machine for unattended retail in high-traffic locations. Sold to independent vending operators.
• Smart Pantry Ambient-temperature autonomous retail cabinet for non-refrigerated products such as snacks, supplements, and everyday essentials. Modular single-door unit designed to work alongside Smart Fridge and Smart Freezer cabinets to create multi-cabinet Smart Stores. Sold to independent vending operators.
• Smart Freezer Frozen-temperature autonomous retail cabinet for ice cream, frozen meals, and other frozen products. Single-door unit with product recognition sensors designed for unattended retail in high-traffic locations. Sold to independent vending operators.
• Micromart Platform Cloud-based management platform for operators to manage all Smart Store locations. Provides real-time inventory management, sales analytics, product selection tools, pricing strategy controls, automated tax handling, and remote store management from a single dashboard. Sold as a $60/month per cabinet subscription.
• Product Pushers Spring-loaded shelf accessories that push products forward for consistent product facing. Required for optimal computer vision system performance and a professional storefront appearance. Sold at $70 per shelf to Smart Store operators.
• Fixturelite Surround Premium structural enclosure solution from partner Fixturelite that integrates with Smart Store cabinets for enhanced aesthetics and a professional built-in appearance. Available in various finishes and materials to match location style for both new and existing installations.
• Lease-to-Own Program 36-month lease program allowing operators to pay monthly fees to operate Micromart Smart Stores with an option to purchase equipment for a nominal fee at the end of term. Early payoff is available (balance plus buyout fee). Requires a registered business, a location contract with 150+ daily foot traffic, and business insurance.

Quantifiable outcome

• 2,000+ Smart Stores deployed across North America
• +6 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability3 records

Feature6 records

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Standard AI: Direct competitor offering computer vision–powered checkout-free smart stores for retailers. Targets similar frictionless "grab and go" use cases with comparable hardware-software-payments stack and competes for the same unattended retail locations.
• Zippin: Frictionless checkout technology provider using AI, sensors, and cameras to power unattended retail stores. Competes for the same checkout-free convenience and micro-market customers.
• Cantaloupe Inc. Provider of technology and payment solutions for unattended retail, including vending, micro-markets, and smart stores. Directly comparable hardware-software-payments platform targeting the same operator customer base.
• AiFi: AI-camera-based autonomous store platform enabling checkout-free shopping in convenience, sports, and retail settings. Direct overlap with Micromart's smart-store model across both hardware deployment and software platform.
• Trigo: Computer vision platform retrofitting existing grocery and retail stores into checkout-free smart stores. Direct competitor in the autonomous retail technology category with enterprise retailer focus.

Emerging players

• Caper AI: AI-powered shopping cart and smart checkout technology for grocery and convenience retail. Adjacent checkout-free solution with overlapping operator and retailer customers, though focused on carts rather than smart cabinets.
• Nayax: Global provider of unattended payment solutions and telemetry for vending and self-service retail. Overlaps in the smart retail hardware and payment processing stack, particularly as Micromart expands internationally.

Broad incumbents

• 365 Retail Markets: Established provider of unattended retail technology for micro-markets, vending, and office pantry solutions. Broader portfolio serving enterprise break rooms and convenience retail with overlapping operator ecosystem.
• Amazon (Just Walk Out): Amazon's checkout-free technology sold to third-party retailers (including stadiums, airports, and convenience stores). Largest and best-capitalized incumbent in the autonomous smart store category.
• Stockwell (by 365 Retail Markets): AI-powered autonomous retail store solution from 365 Retail Markets offering checkout-free cabinets for operators. Direct competitive overlap with Micromart's smart store cabinets targeting convenience and workplace locations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/micromarts
• YouTubeyoutube.com/@micro-mart
• LinkedInlinkedin.com/company/micromarts
• Instagraminstagram.com/micro.marts
• TikToktiktok.com/@micromarts

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Micromart