Transforming retail security with gesture-based AI: why we invested in Veesion
By Matthieu Lattes, General Partner, and Bérénice Moustial, Vice President
Paris-based Veesion has raised a €38 million Series B round led by White Star Capital, with support from co-investors Bpifrance, Red River West, KPN, and existing investors including Odyssée Ventures, Verve Ventures and Founders Future.
Veesion’s AI-powered gesture recognition technology transforms retail security by enabling real-time shoplifting detection. The company’s solution already protects thousands of retail stores across 25 countries, including France, Brazil, and the United States, helping businesses reduce stock shrinkage and prevent shoplifting.
The urgent need for innovation in loss prevention
The retail industry loses over $120bn annually due to shrinkage, with shoplifting accounting for more than half of that. For retailers operating on razor-thin profit margins, a reduction in shrinkage can have a significant impact on their bottom line. However, traditional security solutions rely heavily on manual monitoring, which is costly and prone to human error.
Enter Veesion, a plug-and-play artificial intelligence solution that integrates seamlessly with existing security camera systems to detect suspicious gestures associated with shoplifting. Veesion’s technology empowers store owners to act in real-time, preventing theft and recovering stolen goods.
With over 5 million shoplifting incidents and 500 million regular shopping data points used to train its algorithms, Veesion has developed a unique competitive advantage that is hard to replicate.
The result? Veesion detects an average of 15+ thefts per store monthly, generating over $7k in annual savings per store by reducing shrinkage.
With its AI continuously learning from a growing dataset, detection accuracy is expected to improve, unlocking even greater savings. Scaling the solution could quadruple theft detection (up to 60 incidents monthly), cutting shrink by 70% and delivering $30k+ in annual savings per store.
From SMBs to global expansion: Veesion’s next frontier
Since its commercial launch in 2021, Veesion has rapidly gained traction across a diverse range of retail formats, from independent stores to multinational chains. The company has successfully expanded into more than 25 countries and has demonstrated strong product-market fit across Europe, Latin America, and North America.
Operating in 25 countries, Veesion has rapidly gained traction in the US without a sales team on the ground, which reflects the strong product-market fit and demand for Veesion’s solution.
Veesion has already gained strong traction in the U.S., without a local sales team on the ground. This demonstrates significant product-market fit and demand. This signals a significant demand for AI-driven loss prevention solutions in the region, where retail theft losses can reach $5–9 billion in revenue lost per state per year. There, the cost per marketing lead is also considerably cheaper compared to Europe due to the higher share of multi-franchisee customers and extensive TV and media coverage.
With this new funding, Veesion plans to establish a U.S. headquarters to accelerate its expansion and deepen its partnerships with major retailers and resellers.
Why we’re backing Veesion
We see Veesion as a first mover in an untapped market, with no direct competition in gesture-based shoplifting detection. Its low-cost setup, highly scalable AI model, and real-time alerts give it a distinct edge over broader security solutions.
Unlike traditional security solutions that require expensive infrastructure, Veesion’s plug-and-play system works with any camera setup, making it accessible to both SMBs and large multi-store operators, and can be deployed in under an hour. This ease of integration, combined with predictable sales cycles and strong unit economics, positions Veesion for rapid international growth. Additionally, Veesion’s gesture recognition technology ensures privacy compliance, protecting identities and aligning with GDPR regulations.
Beyond its technology, we were impressed by the founding team’s vision and execution. Co-founders Thibault David (CEO), Benoît Koenig (CRO), and Damien Menigaux (Head of Research) have built a strong product and a solid sales engine. With Benoît relocating to the U.S. and a talented leadership team in place, Veesion is well-positioned to scale globally.
Looking ahead: building the future of retail security
Veesion will use the new funding to:
- Expand the U.S. team and establish a local presence to drive sales and customer support
- Invest in R&D to improve detection rates to 50%+ by 2026
- Develop new features such as self-checkout fraud detection and slip-and-fall monitoring
- Strengthen partnerships with resellers and integrators to reach more customers faster
Veesion’s long-term vision goes beyond theft detection. By leveraging its gesture recognition technology, the company aims to expand into adjacent use cases such as operational insights and employee performance monitoring, unlocking new growth opportunities in retail and beyond.
Why now?
The retail industry is at a tipping point. With the rising costs of shrinkage and growing adoption of AI-driven security solutions, Veesion is uniquely positioned to become the global leader in shoplifting detection.
We’re thrilled to partner with Red River West, Bpifrance, KPN and existing investors, including Odyssée Ventures, Verve Ventures and Founders Future, to help Veesion expand globally.
As Veesion scales its operations and expands its product offering, we look forward to supporting them in making retail environments safer and smarter.
