Mobile shopping startup Rezolve shuns security fears with planned Huawei tie-up
Mobile shopping firm Rezolve is set to bag a bumper deal with Huawei to embed its technology into the controversial Chinese tech giant’s phones.
The new capability is expected to be available from March, when Rezolve will reveal further tie-ups with retailers, restaurants and media partners.
The technology allows consumers to make purchases by using their phone’s camera and microphone to interact with physical surroundings such as product labels and posters.
The London-based startup did not disclose financial details of the deal, which has not yet been finalised, but said it expected more than 200m people in Europe to have access to the software by the end of the year, rising to 500m when it is launched in other markets.
Huawei is currently under fierce scrutiny over its role in the UK’s 5G infrastructure amid fears its kit could be used for spying by authorities in Beijing — an allegation the company has always denied.
However, Rezolve chief executive Dan Wagner told City PM he was not concerned about security issues and played down accusations of espionage.
“I think it’s more of a tactical negotiating thing, it’s not entirely down to Huawei,” he said.
Instead he said Huawei was “one of the most advanced mobile technology companies in the world”, adding that the deal showed British tech firms could compete on a global scale.
Eva Wimmers, business development director of Huawei Europe, said: “This partnership marks yet another transformative moment for the industries we serve.
“We are further extending our leadership in mobile innovation by transforming multiple industries with Rezolve technologies inside Huawei devices.”
It follows a similar deal agreed with Samsung last year, which gave Rezolve access to more than 300m devices in the US.
Wagner founded Rezolve in 2016 following the dramatic collapse of Powa, his previous ecommerce venture, and has said he hopes to rehabilitate his reputation as a tech entrepreneur.
The company is still investing money in its technology and is yet to generate significant revenue. Its latest company accounts showed pre-tax loss widened to $6.8m (£5.2m) in 2018 from $4.5m the previous year.
Rezolve said it expected to post a loss again in 2019, but revenue from its commercial deals will begin to materialise in this coming year.
The tech firm last year made several high-profile board appointments, including former British diplomat Sir David Wright and ex-Sainsbury’s chief executive Justin King.