Israeli smart grocery cart firm secures $35m series B

Israeli smart grocery cart startup Shopic raised US$35 million in a series B investment round led by Qualcomm Ventures.

Other investors include Vintage Investment Partners, Clal Insurance, and existing investors IBI Tech Fund, Tal Ventures, Claridge Israel, and Shufersal.

Photo credit: Shopic

Shopic offers an AI-powered device that clips onto shopping carts, with cameras that enable an AI model to identify products placed in the cart in real-time. It then displays related promotions and discounts to users.

The system also provides a self-checkout feature, after which users can remove the device from the cart.

For businesses, this allows for real-time inventory management and helps them collect consumer behavior data. An analytics dashboard also lets companies monitor promotions and consumer activity in their stores.

Shopic will be using the funds to move further into global markets. Currently, the startup has a presence in Europe, the Americas, and Israel, according to a statement.

Founded in 2015, the startup previously raised US$21 million. This funding round brings its total funds raised to US$56 million.

See also: Meet the 50 top-funded startups and tech companies in Israel