Mr. Brent Reuter reports
AUSTRALIS CAPITAL LAUNCHES COCOON TECHNOLOGY - A SELF-SERVICE FULFILLMENT PLATFORM FOR DISPENSARIES AND HIGHLY REGULATED BRICK & MORTAR RETAILERS
Australis Capital Inc. has formed Cocoon Technology LLC, a cloud-based, self-service fulfilment platform and wholly owned subsidiary of the company. Designed to enhance the consumer experience and reduce labour costs, Cocoon delivers operational efficiency to dispensaries while improving order fulfilment, cash management, bankcard acceptance, data analytics, customer loyalty, marketing, privacy and compliance. Cocoon's platform-as-a-service model delivers contracted recurring revenue, one-time revenue, exclusive multiyear agreements, enhanced product offerings and an extensive runway of future innovations.
With the launch of CocoonPod, Cocoon unites state-of-the-art self-service kiosks with mobile applications, platform agnostic integrations into leading enterprise resource planning (ERP)/business management systems, and payment providers. CocoonPod features consumer-facing kiosks as stand-alone units or multiunit pods as the core consumer point of interaction (POI), coupled with a consumer mobile application and tablet for employee assisted self-service transactions, providing a full omnicommerce solution for brick-and-mortar locations.
"The benefits of deploying self-service technology have been demonstrated across all brick-and-mortar retail sectors in the United States and AUSA's management experience and leadership in self-service technology positions AUSA for immediate success across North America," states Michael Carlotti, chief financial officer of the company. "The estimated market opportunity for kiosk sales to dispensaries in the United States over the next five years is 50,000 units with a recurring revenue model based on a percentage of sales initiated within CocoonPod. Cocoon has met with leading multistate operators (MSO) and focus groups with conservative assumptions suggesting 60 to 80 per cent of returning customers will choose to initiate their purchase through a self-service POI."
CocoonPod functionality delivers reduced transaction times, privacy, coinless cash recycling, payment gateway, ATM processing, ID validation, QR codes, consumer loyalty, charitable donations and numerous marketing opportunities through a dynamic user interface. By integrating Coil, a loyalty and data application built by the company's wholly owned subsidiary Rthm Technologies, CocoonPod also offers fully integrated loyalty functionality for consumers, now branded as CocoonRewards.
"Since being acquired by AUSA the Rthm team has created the industry's most powerful data-driven mobile loyalty application which will integrate directly within the CocoonPod platform providing operators and consumers a user experience and point-of-purchase options never before available," states Alex Mosa, president of Rthm. "We are excited to release this impactful product into the U.S. market."
CocoonPod self-service kiosks and integrated form factors were developed in partnership with Passport Technology Inc., the international award-winning technology provider to brick-and-mortar casinos and hospitality. With over a decade of experience developing robust, intuitive, aesthetically pleasing self-service kiosk technology, payment applications, loyalty rewards, compliance programs and opt-out optionality to highly regulated and high-traffic industries, Passport's reputation of developing and supporting these technologies is unparalleled.
"As the industry continues to expand, retailers seek opportunities to streamline operations and enhance consumer experiences. CocoonPod is the future for highly regulated brick-and-mortar environments where privacy, know your customer (KYC), anti-money laundering (AML) and social responsibility are critical," states Kurt Sullivan, president of Passport. "Our partnership with Cocoon will immediately address known pain points while introducing new functionality for all stakeholders within the dispensary and retail ecosystem."
About Australis Capital Inc.
The company operates and builds transformative, differentiated cannabis companies in and serving the cannabis market predominantly in the United States, a highly regulated, fragmented, and rapidly expanding industry. The company adheres to stringent evaluation and operating criteria focusing on high-quality opportunities while maintaining a steadfast commitment to governance and community. The company's board and management team have material experience with, and knowledge of, the cannabis space in the United States, extensive backgrounds in highly regulated industries and regulatory compliance. The company's operating and portfolio assets include Rthm Technologies Inc., Body and Mind Inc., Quality Green Inc., Folium Biosciences, Wagner Dimas, Mr. Natural Inc., Green Therapeutics LLC and Cocoon Technology LLC.
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