NY and Tel Aviv, IL--Todos Medical, Ltd., a comprehensive medical diagnostics and related solutions company, announced in a press release that it has entered into a distributor agreement to supply its proprietary 3CL protease inhibitor immune support dietary supplement Tollovid and botanical ‘0% THC’ CBD products in pill, tincture, gummy, candy and cream finished products to Nerd Hemp, Inc., an automated retail (AI Retail) machine company focused on the distribution of CBD products.
AI Retail machines are similar to vending machines, however, they use artificial intelligence to monitor product supply to optimize the re-ordering and stocking process. The new Tollovid and CBD products for the AI Retail machines will be manufactured in different adult and pediatric formulations in the Todos’ newly leased Cleburn, Texas-based facility. Nerd Hemp has already been contracted to install 5500 AI Retail machines across the United States in retail outlets including airports, shopping centers, universities, sporting venues, fitness centers, bars, and grocery outlets.
These AI Retail machines are located in high-traffic and secure locations very similar to the Redbox model. The first deliveries are expected to take place in October in grocery outlets like Lowes Markets, a privately held grocer with over 140 locations in the southwestern United States. Todos anticipates $11.5 million in revenue in the fourth quarter of 2022 from this contract as Nerd Hemp commences its nationwide rollout.
"Being able to gain access to a game-changing supplement such as Tollovid that is ideal for travel, athletic and leisure marketplace was something unique that no other supplier than Todos could deliver,” said RJ Grady, President & CEO of Nerd Hemp, in the news release.
“As we roll out these AI Retail machines into high-trafficked and secure retail locations that have a proven demand for CBD and personal health products, we are excited to be able to introduce Tollovid to the marketplace in lower priced formats that lower the barrier to access for the average consumer in settings where they are looking for extra protection in today’s environment. We think that after a consumer understands our products they will see the value proposition as they expect to regularly meet immune challenges in today’s new normal," Grady added.
According to Granview Research, The global retail vending machine market size was valued at USD 51.91 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030.
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