In a series B financing round that was co-led by Qualcomm Ventures, the Israeli smart grocery cart firm Shopic raised $35 million in US dollars.
IBI Tech Fund, Tal Ventures, Claridge Israel, Shufersal, and Vintage Investment Partners are additional investors in addition to the aforementioned ones already in place.
An AI model can recognize the items that are placed in the cart in real-time thanks to cameras on the Shopic AI-powered gadget that clamps onto shopping carts. After that, consumers see relevant discounts and promotions.
In addition, the system has a self-checkout option that allows customers to take their items directly from their shopping cart.
This helps firms get information about consumer behaviour and enables real-time inventory management. Businesses may keep tabs on sales and customer activity in their establishments with the use of an analytics dashboard.
Shopic plans to use the money to expand its worldwide market reach. A statement from the startup claims that it is currently present in Israel, the Americas, and Europe.
The firm, founded in 2015, has already raised $21 million in US dollars. With this round of fundraising, it has now successfully raised $56 million USD.
