Serb Natlfed

Main Menu

  • Home
  • Serbian finance
  • Serbian banks
  • Serbian economy
  • Serbian loans
  • Financial affairs

Serb Natlfed

Header Banner

Serb Natlfed

  • Home
  • Serbian finance
  • Serbian banks
  • Serbian economy
  • Serbian loans
  • Financial affairs
Financial affairs
Home›Financial affairs›Shopic pockets $35 million for Smart Cart Grocery Tech

Shopic pockets $35 million for Smart Cart Grocery Tech

By Corey Owens
August 9, 2022
0
0

Tel Aviv-based grocery tech startup shop raised $35 million in a Series B funding round led by Qualcomm Ventures, which saw participation from Vintage Investment Partners and Clal Insurance.

Existing investors IBI Tech Fund, Tal Ventures, Claridge Israel and Shufersal also backed the round, Tech Funding News reported Tuesday (August 9).

The company will use the new funds to expand its global reach. The Shopic technology, which uses computer vision to identify items as shoppers add them to their carts, has already been deployed in grocery stores and supermarket chains in Europe, the Americas and Israel.

Shopic is a smart grocery cart company positioning itself as a rival to the Amazon Dash smart cart. It built an artificial intelligence (AI)-powered clip-on device that turns shopping carts into smart carts, according to the report.

Using computer vision, Shopic identifies items placed in the cart in real time, while displaying product promotions and related product discounts. The system acts as a self-service checkout interface, meaning customers don’t need to queue and pay at the end of their shopping journey.

In addition to providing a more streamlined experience for shoppers, the company provides real-time inventory management and customer behavior insights to retailers through its analytics dashboard. These reports include aisle heatmaps, promotion monitoring, and new product adoption metrics.

As PYMNTS recently reported, Shopic isn’t the only player in the smart shopping cart space, and in Europe in particular, a host of supermarkets and startups are lining up to deliver the next generation of smart shopping cart technology. ‘grocery.

See also: Autonomous AI-powered stores usher in next-gen retail for European shoppers

Commenting on the latest funding, Raz Golan, CEO and co-founder of Shopic, said, “Today’s consumers are used to frictionless online shopping experiences, but retailers are struggling to deliver them to consumers. in-store shoppers. As the only solution that uses full computer vision rather than barcode scanning, Shopic enables retailers to not only meet customer expectations, but also delight them. »

Merav Weinryb, Vice President of Qualcomm Israel and General Manager of Qualcomm Ventures Israel and Europe, added, “We support Shopic’s vision of hybrid retail, where the best of online shopping and physical store experiences merged.

“Shopic’s smart cart, which is a compelling and pragmatic smart retail solution, helps enable this future. We were very impressed with the performance of Shopic’s cart in live supermarkets, demonstrating the potential of AI to transform everyone’s daily experiences.

For all PYMNTS EMEA coverage, subscribe daily EMEA Newsletter.

——————————

NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS HAVING HIGH DEMAND FOR SUPER APPS

About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

Related posts:

  1. Why use a loan instead of credit
  2. Credit card pre-approval vs pre-qualification
  3. AxiaMed Partners With CareCredit To Provide Integrated Payment Solutions For A Convenient And Streamlined Patient Experience
  4. Mogo enters new referral agreement with Lendful for unsecured consumer loans

Categories

  • Financial affairs
  • Serbian banks
  • Serbian economy
  • Serbian finance
  • Serbian loans

Resent Posts

  • Wednesday, November 23, 2022 – La Minute Monocle
  • All 17 Man Utd first-team players set to feature in friendlies
  • Veterinary Telemedicine Company Dutch launches pet insurance in partnership with Pets Best | Company
  • Pančevo Jazz Festival 2022 (Serbia) – London Jazz News
  • The best mortgage finance stocks to buy right now

Archives

  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • Privacy Policy
  • Terms and Conditions