Skyfii (ASX:SKF) shares soar on announcement of three-year McDonald’s agreement

• Skyfii (SKF) signs a three-year deal worth $2 million with McDonald’s to test whether it can use its light detection technology to speed up deliveries and save food wastage
• Under the deal, the company will provide a real-time whole-of-restaurant monitoring and analysis solution to help the individual stores improve their operations and efficiency
• To assist delivery, SKF has partnered with the global strategy and research firm Halverson Group which has a long history and experience in working with McDonald’s
• The solution is currently live in four McDonald’s stores with a further four to follow
• Shares in Skyfii end the day 62.9 per cent in the green to close at 5.7 cents

Skyfii (SKF) has signed a three-year deal worth $2 million with McDonald’s to test whether it can use its light detection technology to speed up deliveries and save food wastage.

Under the deal, the company will provide a real-time whole-of-restaurant monitoring and analysis solution, which it said would help the individual stores improve their operations, service efficiency and food freshness.

It is installing kit in restaurants that will use LiDAR technology alongside thermal imaging technology, as well as its algorithm to analyse the movement of staff and customers across McDonald’s service channels.

To help deliver this solution, Skyfii has partnered with the global strategy and research firm Halverson Group which has a long history and experience in working with McDonald’s.

CEO Wayne Arthur called the deal an “industry-first solution”, saying it solves some critical pain points for such a large and globally recognised QSR brand is a privilege.

“I am exceptionally proud that as consumer behaviour continues to evolve and the needs of our customers change, Skyfii can advance its solution offering to provide valuable operational data analytics to help solve these pain points for our clients,” Mr Arthur said.

“With a very large global QSR market, the ability to leverage this solution and insights from this initial contract across a multitude of venues provides a significant growth opportunity for Skyfii.”

The solution is currently live in four McDonald’s stores with a further four to follow.

Shares in Skyfii ended the day 62.9 per cent in the green to close at 5.7 cents.