Fox Labs Overview
Fox Labs is an accelerator for companies and entrepreneurs that are active in the retail-tech sector. Fox Labs is searching for companies whose products can provide added value to the chains retail stores, aid in its e-commerce efforts, provide innovation in the logistics and supply chain management field and offer solutions in the areas of data storage and payments, among others.
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Fashion retail giant Fox launches tech accelerator
Israeli retailer Fox-Wizel Ltd. has launched Fox Labs, an accelerator for startups in the retail-tech sector. The company is seeking to invest in and partner with local startups that can provide added value to its retail stores, aid in its e-commerce efforts, and offer innovative solutions in logistics, supply chain management, data storage, and payments. Fox-Wizel plans to leverage its 800 stores to test new products and technologies. The company currently works with a few tech startups and has recently purchased a stake in child safety seat brand BabyArk and is in talks with Preciate Inc. and ByondXR. Fox-Wizel intends to acquire minority shares or collaborate with tech startups, rather than becoming a majority shareholder. The volume of investments in tech companies has not been determined yet.
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