Stekair is an inventory management solution which seeks to automate almost every part of the process through a series of different AI solutions – which will primarily be engineered by CTO Ryan Riahi. 

Their product will be able to update vending machine operators with live figures of sales and inventory – which are not currently possible given that legacy companies are still relying on in-person restocking and counting – which requires drivers to trek across vast distances without knowing which products, in which machines, need refilling before physically inspecting contents.

“Our AI is going to be called SENS AI,” said Mifsud, “għax jagħmel ħafna sens”. (“Because it makes a lot of sense”)

Not only will their inventory management processes implement AI solutions, but vending machines subscribing to their service will be used to collect data – for eventual resale, as a valuable commodity.

Routes taken by delivery drivers will be optimised by AI “so that trucks won’t have to drive all around Malta to refill four machines” and eventually the company intends to implement a large language model – which will be responsible for client management and customer service.

Though some may be disconcerted at the notion of powerful limited intelligence systems being implemented in vending machines on every corner, when the entrepreneurs had finished their thorough pitch, he sharks were visibly impressed. 

“This was the best ever pitch on Shark Tank,” said Alex Fenech. 

Christabelle Camilleri was excited to get on board, adding, “So well prepared – and you addressed everything!”

Chris Vassallo, this season’s highest spender added his own praise. “Besides that, Stekair is a very good name. SENS AI…” he smiled, “Star. But lets get into the nitty gritty.”

It was at this point that the sharks identified a potential sticking point for the company, which would be basing most of its revenue streams off of a subscription model – but in the case of many vending machines, would require a one-time hardware implementation – costing roughly €45.

This hardware has yet to be produced at a large scale, but the pair were hoping to have a “working hardware and telemetry solution by next year.”

While this sticking point could pose a short-term problem, AI expert Angelo Dalli was interested. Christabelle Camilleri was also on board, bringing her marketing expertise and contacts to the growing Stekair team, while Alex Fenech threw his own hat into the ring because, in his own words, he is “obsessed with inventory management”. 

Together, Dalli, Fenech and Camilleri made an offer of €100,000 for 30% of the company – which was immediately accepted by Stekair’s co-founders.

How do you feel about a future complete with AI powered vending machines?