Cocoon Technology LLC's pods are designed to reduce labor costs and improve the consumer experience
() (OTCMKTS:AUSAF), a cannabis-focused investment company has formed a cloud-based, self-service fulfillment platform, Cocoon Technology LLC.
Cocoon, which will operate as a wholly-owned subsidiary of Australis, will provide dispensaries with a Platform-as-a-Service model to help them improve order fulfillment, cash management, bankcard acceptance, data analytics, customer loyalty, marketing, privacy, and compliance.
The goal, the company said, is to enhance the consumer experience and reduce labor costs.
READ: Australis Capital granted Special Use Permit for Tropical Parkway land acquired with Green Therapeutics deal
Specifically, the company has created CocoonPod, a self-service kiosk equipped with mobile applications, platform agnostic integrations into business management systems and payment providers.
The consumer-facing units can function as stand-alone kiosks or multi-unit pods.
"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," Australis CFO Michael Carlotti said.
"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.”
Carlotti said Cocoon has met with multi-state operators and focus groups that have offered conservative estimates that between 60% and 80% of returning customers will choose to make a purchase using a self-service point-of-interaction.
The pods have also been integrated with Coil, loyalty and data app built by fellow Australis subsidiary Rthm Technologies.
"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," Rthm President Alex Mosa said in a statement. "We are excited to release this impactful product into the US market."
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel