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Australis Capital says Cocoon Technology helps dispensaries to reopen with the launch of contactless, self-service kiosks

The group's CocoonPod kiosks are very relevant in the current pandemic world as they eliminate person-to-person contact at the point-of-sale

Australis Capital Inc - Australis Capital’s Cocoon Technology helps dispensaries to reopen with the launch of contactless, self-service kiosks
Cocoon Technology's pods allow customers to research products, place orders, and make payments directly through the kiosk, or a mobile device

Australis Capital Inc (CSE:AUSA) (OTCQB:AUSAF) said that its portfolio asset company Cocoon Technology LLC is helping shape contactless commerce during the coronavirus pandemic via its self-service CocoonPod, which gives customers the option to make payments directly through the kiosk, or a mobile device.

Companies are shifting to contactless payments as governments and consumers try to minimize the interactions between people to combat the spread of the virus.

“As dispensaries begin the initial phases of reopening, they are required to follow guidelines protecting the health and safety of both employees and customers. CocoonPod mitigates these safety concerns while reducing resource requirements,” the company said in a statement on Thursday.

READ: Australis Capital's Cocoon Technology nears launch of kiosks in one of Nevada's largest cannabis retailers

Specifically, the CocoonPod self-service kiosk is 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 company said a CocoonPod allows a customer to “research products, place orders, and make payments directly through the kiosk, or a mobile device.” The entire transaction takes place while adhering “to social distancing guidelines” by alleviating the need for “person-to-person contact at the point-of-sale,” it added.

The cloud-based, self-service fulfillment platform’s goal, the company noted, is to enhance the consumer experience and reduce labor costs for dispensaries.

“By combining operational efficiency and social distancing measures, CocoonPod is ideally positioning dispensaries for a safe reopening,” the group said. 

Australis, which was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle, said it has entered into an agreement with THRIVE Cannabis Marketplace to install CocoonPod kiosks in the dispensary’s eight existing locations in June, with more to come over the deal’s four-year term.

Cocoon provides 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.

Australis Capital’s operating and portfolio assets include Cocoon Technology LLC, Cocoon Rewards, Paytron LLC, Body and Mind Inc, Tsunami, Provisions, GT Flowers, and Quality Green Inc.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Quick facts: Australis Capital Inc

Price: 0.19 CAD

Market: CSE
Market Cap: $33.48 m

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