Shopic raises $10M for its clip-on smart cart tech
Summary
• None Shopic, the developer of a clip-on, frictionless shopping device that attaches to standard grocery carts, has raised $10 million from a group of investors, the Tel Aviv, Israel-based company announced on Tuesday • None The investment round, which brings Shopics total funding raised to $21 million, was led by Israeli technology investment firm Claridge Israel and also included existing investors Entrée Capital, IBI Tech Fund and Tal Capital. • None Shopic is among a range of companies vying to outfit grocery stores with equipment that lets shoppers pay for purchases without visiting a checkout station. Shopic said in its announcement that its unit tracks shoppers as they move around a store and compiles data that can be used to offer personalized promotions and study shopping behavior. "This investment ... 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," Raz Golan, CEO and co-founder of Shopic, said in a statement. The Israeli companies devices function similarly to smart carts developed by Amazon and startups like Veeve and Caper, all of which also use on-board sensors to record purchases and interact with shoppers.
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