INEO Tech Corp. announce it has shipped the first INEO Welcoming Systems, as per the Company's distribution agreement with partner Prosegur Security ("Prosegur"), for installation at various locations of Jumbo Cencosud ("Jumbo") in Colombia. As per the agreement, before the end of October, INEO will be selling and shipping a total of 59 systems, comprised of both Welcoming Systems and Welcoming GATEs, which will be installed in four Jumbo retail locations.

With approximately 15 systems installed per store, INEO will be managing an immersive in-store retail media network. INEO will receive revenue from the sale of the systems as well as ongoing SaaS based revenues from the deployment of the installed INEO Welcoming Systems. Jumbo Cencosud, a subsidiary of Cencosud, is a supermarket chain which operates in several countries in Latin America, including Argentina, Brazil, Chile, Colombia, and Peru. The Jumbo retail chain offers a wide range of products, including groceries, household items, electronics, clothing, etc., and operates over 300 stores across South America.

Jumbo is owned by Cencosud, one of the largest and most prominent retail conglomerates in South America, which also owns and operates additional retail businesses including supermarkets, hypermarkets, department stores, home improvement stores, and shopping malls. Overall, Cencosud operates over 1,000 stores under various brand names across Latin America. Under the terms of the Prosegur global distribution partnership agreement, Prosegur has been granted non-exclusive distribution rights to sell, secure, place and install the patented INEO Welcoming System under their own brand, "Prosegur EVO".

Prosegur is responsible for funding the manufacturing and distribution as well as the in-store setup and in-store maintenance of the systems. Meanwhile, INEO is responsible for online provisioning, operating and managing of the Media Network which powers the EVO digital screens.