Sydney AI startup HIVERY was named the NSW Exporter of the Year on Wednesday night in recognition of its innovative retail software now shipping around the world. The company is now a finalist for the Australian Export Awards.
Founded in 2015 as a CSIRO spinout, the company uses AI and machine learning to determine the optimal store and shelf arrangements for consumer packaged goods.
It is backed by Coca-Cola and raised $43 million in a series B round earlier this year.
On Wednesday night, it took top prize in the 2022 Premier’s NSW Export Awards as the state’s Exporter of the Year.
“Our local exporters are innovating, creating jobs and cementing NSW as the nation’s strongest export economy, as we strive to reach our target of $200 billion in export value by 2031,” New South Wales Premier Dominic Perrottet said.
“After launching in 2015, HIVERY has gone from strength to strength, expanding into the US, Europe and Japanese markets, which has resulted in their export revenue sky-rocketing by 300 per cent since 2019.”
HIVERY began when entrepreneurs Franki Chamaki and Jason Hosking met data scientists from CSIRO’s Data61 at a big data hackathon. The group ran a series of experiments on Newcastle vending machines to test if AI could improve the display and assortment to increase sales and reduce costs.
The solution was commercialised as HIVERY Enhance and is now used in vending machines around the world. The company has expanded to offer similar solutions for brick and mortar stores and is beta testing an AI driven promotional calendar product.
The company announced a $43 million series B round in July, led by Tiger Global, with additional investment from Blackbird Ventures and others.
The Export Awards, now in its 60th year, are run by the state government and the Export Council of Australia, the peak body for Australian international trade stakeholders.
HIVERY’s win on Wednesday means the company will be a finalist in the Australian Export Awards next month.
Minister for Enterprise, Investment and Trade Alister Henskens said one in five jobs in Australia rely on exports.
“This year’s winners showcase the diverse range of businesses and industries that the NSW government is supporting, both at home and through our global network, to open doors and expand into new markets,” Mr Henskens said.
“We have invested heavily in our state’s global network and we are committed to growing NSW’s export culture even further. By supporting individuals and businesses, such as HIVERY, to access international markets, we can be confident of our increasing presence and success on the world stage.”
