Tel Aviv, Israel–(Newsfile Corp. – August 9, 2022) –
Shopic’s smart cart clip-on
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The Series B investment will be used to expand the company’s penetration to global markets. Shopic’s solutions are already deployed by several grocers in Europe, the Americas and Israel. They include some of the world’s largest supermarket chains.
As opposed to monolithic smart carts, such as Amazon Dash, Shopic’s clip-on device can be used with any shopping cart, offering a highly cost-effective implementation path for grocers. Additionally, shoppers can remove the device when their transactions are complete and use the cart to take their groceries out to the parking lot, completing a truly frictionless shelf-to-car shopping journey.
Inside the cart, Shopic uses a camera duo that enables its AI-computer vision model to support large catalogs of over 50,000 items, cover edge cases and achieve low latency with limited processing power. The algorithm can even identify products thrown into the cart even when it’s in motion or when people put multiple products in their carts simultaneously.
Merav Weinryb, VP of Qualcomm Israel Ltd. and Managing Director of Qualcomm Ventures Israel and Europe, said: “We support Shopic’s vision of hybrid retail, where the best of online shopping and physical store experiences merge. Shopic’s smart cart, which is a compelling and pragmatic smart retail solution is helping enable this future. We were very impressed with the performance of Shopic’s cart in live supermarkets, demonstrating the potential of AI to transform everyday experiences for everyone.”
Shopic provides smart cart and store digitalization solutions to the world’s leading grocers, bringing the advantages of online commerce to their physical stores. The company’s computer vision-based clip-on device turns any regular shopping cart into a smart cart. It delivers a smooth shopping experience, instant on-cart checkout, just-in-time personalized promotions, and analytical insights from the retail floor. Founded in 2015, Shopic is headquartered in Tel Aviv, Israel. For more information, visit Shopic.co.
About Qualcomm Ventures
Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated entities, has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. For more information please visit qualcommventures.com.
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