Israeli startup Shopic bags $10 million to let consumers make purchases in large retail chains without having to wait in line at checkouts
These days, leading grocers and retailers are constantly exploring smart cart technologies to meet the growing demand for frictionless shopping and cashier-less checkout. However, introducing purpose-built smart carts to a store is often operationally complicated and very costly.
Enter Shopic, a Tel Aviv, Israel-based artificial intelligence startup that provides a frictionless shopping experience for medium and large grocery stores. Shopic overcomes these challenges with an AI-powered clip-on device that can turn any standard shopping cart into a smart cart.
It can be deployed with minimal modifications to a store’s infrastructure and layout and still deliver the full benefits of smart cart shopping – an effortless shopping experience without checkout lines while offering a personalized store journey with contextualized promotions. Shopic’s smart cart solution can be deployed in large supermarkets, unlike most other frictionless solutions that are limited to small convenience stores.
Today, Shopic announced Tuesday that it raised an additional $10 million in equity funding bringing the total amount raised to date to $21 million. The round was led by technology growth investor Claridge Israel, with the participation of the company’s existing investors, Entrée Capital, IBI Tech Fund, and Tal Capital. The additional investment will help Shopic transform in-store shopping with AI-powered, smart shopping cart clip-on system.
Founded in 2015 by CEO Raz Golan, Dan Bendler, and Eran Kravitz, Shopic is transforming brick-and-mortar stores with its frictionless, personalized retail solutions. The company has developed an AI-powered device that can be attached to any standard shopping cart, turning it into a smart cart.
Shopic provides a frictionless shopping experience for medium and large grocery stores. Using computerized vision technology that combines applications and barcode scanning systems, Shopic’s platform enables consumers to purchase in large retail chains without having to wait in line at checkouts.
Using computerized vision technology that combines applications and barcode scanning systems, Shopic’s platform enables consumers to purchase in large retail chains without having to wait in line at checkouts.
It recognizes items being added or removed, allowing shoppers to skip the checkout lines while also offering personalized store journeys and contextual promotions. Aimed at medium and large-sized stores, Shopic helps retailers create a seamless in-store shopping experience as well as to optimize their operations with real-time analysis of shopper carts and store shelves. Shopic’s platform also runs advanced analysis that allows retailers to better understand consumer behavior and improve productivity.
“We’re excited to announce this additional funding that will help us progress more rapidly as we expand our solution into new stores and retail partners,” said Raz Golan, CEO and Co-founder of Shopic. “This investment, from a long-term growth investor such as Claridge Israel, is a vote of confidence in our approach to build and deliver frictionless retail solutions that are practical, immediately deployable, and cost-effective, without having to make major changes to the way stores are run.”