Shopic Overview
The Shopic platform offers mobile self-checkout and AI-powered fraud detection solutions. It is quickly evolving into a complete frictionless in-store experience.
Cumulative Funding Raised Over Time ($)
$35.0MAug 2022
$36.5MJan 2016
$36.5MJan 2018
$46.5MJul 2021
$54.1MMay 2020
Latest News
growth-positive
Smart Carts May Be The Disruptive Technology Grocery Stores Need Now
Shopic, an AI-powered smart cart provider, is helping grocery stores improve their shopping experience and regain market share. The companys smart carts allow customers to bypass checkout lines, reducing friction and improving customer satisfaction. Shopics smart carts also support retail media displays to highlight location-based promotions, discounts and add-along items. The companys technology is being deployed by several grocery chains, including Albertsons, Kroger, Safeway, Metropolitan Markets and Tom Thumb. According to Shopic, stores using its smart carts have seen a 73% increase in basket size and a reduction in shopping time to 24 minutes.
CustomersPartnersInvestment
growth-positive
Smart Cart Startup Shopic to Present Its Solution at Microsoft Experience Center in Munich
Shopic has partnered with the Microsoft Experience Center EMEA in Munich to showcase its smart cart technology. This collaboration allows Shopic to present its solution to a wide audience and build relationships with potential customers. Shopics solution aims to reduce waiting time at grocery store checkouts and enhance the shopping experience. The company uses computer vision AI algorithms and a clip-on device that attaches to any standard grocery cart. The device displays a running total in real time and offers personalized special offers. Shopic has experienced growth, doubling its employee count, raising $35 million in Series B funding, and deploying pilots in leading retailers across North and South America. The company has also expanded its partnership with Shufersal, Israels largest grocery chain. Shopic recently joined Microsoft at industry conferences and is discussing the potential for further collaboration with Microsoft Experience Centers.
Partners
growth-positive
Startup's clip-on device for smart carts deployed at Shufersal
Israeli startup Shopic has developed a clip-on device for smart carts in supermarkets that uses computer vision and artificial intelligence to identify products without the need for scanning barcodes. The device has an accuracy of 99.4% and allows customers to pay at the cart, eliminating the need for checkout lines. Shopic has announced a deployment of at least 2,000 devices across 30 stores of Shufersal, Israels largest supermarket chain. The company raised $35 million in a series B investment round led by Qualcomm Ventures and has raised a total of $56 million in funding. The article highlights the growing trend of checkout-free shopping technologies in the grocery retail space.
CustomersPartnersInvestment
growth-positive
Shopic raises $35 million Series B for smart cart solution | CTech
Shopic, a company that develops smart cart solutions, has completed a $35 million Series B funding round led by Qualcomm Ventures. The round also saw participation from Vintage Investment Partners, Clal Insurance, and Shopics existing investors. Shopic has raised a total of $56 million to date. The companys digitalization platform for supermarkets is already deployed by leading grocery chains worldwide. Shopics smart cart solution uses an AI-powered clip-on device that turns any standard shopping cart into a smart cart. It recognizes products, presents personalized offers, and allows shoppers to pay and leave the store without going through a checkout line. Shopics solution is deployed in Europe, Israel, and the Americas, with Walmart and Aldi among its clients.
Investment
growth-positive
Shopic Nabs $10M Investment To Expand Use Of Smart Cart Tech
Israeli startup Shopic has raised an additional $10 million in funding, bringing its total equity funding to $21 million. The funding will be used to expand the team and accelerate commercial ventures. Shopic provides mobile self-checkout and AI-powered retail solutions, including a clip-on device that turns a shopping cart into a smart cart using computer vision. The technology improves the customer experience, allows for targeted promotions, collects sales analytics, and enhances store management. Shopic already works with large retailers in the US, Europe, and Israel, and has received positive feedback from customers. Claridge Israel led the funding round, with participation from existing investors. Oded Tal of Claridge Israel will join Shopics Board of Directors.
InvestmentExpand
| Sector | Fintech & Insurtech |
Funding
| Total funding | $54.1M |
| Last funding | $35M |
| Stage | B |
| Rounds | 5 |
| Investors | 12 |
Team Members
9
Employees: 51-200
Web & Social Links
| Website | www.shopic.co/home |
| Careers | Careers page |
| App Store | App Store |
| Google Play | Google Play |
Locations
Derech Menachem Begin 156, Tel Aviv-Jaffa, Israel
450 Lexington Ave, New York, NY, United States
Photos & Videos
1 item(s)
Shopic Business
Business models
B2B2C
Product stage
Released
Employees
51-200
Sector
Fintech & InsurtechMoney Transfer & ManagementTarget Customer
Commerce & RetailDistribution ChannelsSupermarketsOmni ChannelConsumersCore Technology
Platforms & InterfacesWebMobileArtificial IntelligenceImage RecognitionTags (1)
self-checkoutSolutions
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Use Cases
Shopic’s frictionless solution increased shoppers’ monthly spending by 8%Geographic Markets
United StatesIsraelShopic Financials
$54.1M
Total funding
Undisclosed
Capital raised
$35M
Last funding
B
Funding stage
5
Total rounds
12
Investors
Cumulative Funding Raised Over Time ($)
$35.0MAug 2022
$36.5MJan 2016
$36.5MJan 2018
$46.5MJul 2021
$54.1MMay 2020
Private Equity Funding
B Round
Aug 2022
$35M
Qualcomm Ventures (Lead)
,
Eyal Gura, IBI Tech Fund, Tal Ventures, Vintage Investment Partners, Clal Insurance Enterprises Holdings , Shufersal, Claridge Israel
B Round
Jul 2021
$10M
Claridge Israel (Lead)
,
Tal Ventures, IBI Tech Fund, Entrée Capital
A Round
May 2020
$7.6M
IBI Tech Fund (Lead)
,
Entrée Capital, Shufersal
Undisclosed Round
Jan 2018
Undisclosed
Spring Ventures
Seed
Jan 2016
$1.5M
Entrée Capital, SeedIL Ventures, Wellborn Ventures
Shopic Lifecycle
Cumulative Funding Raised Over Time
$35.0MAug 2022
$36.5MJan 2016
$36.5MJan 2018
$46.5MJul 2021
$54.1MMay 2020
All Events
B Round
Aug 2022
$35M
Qualcomm Ventures (Lead)
,
Eyal Gura, IBI Tech Fund, Tal Ventures, Vintage Investment Partners, Clal Insurance Enterprises Holdings , Shufersal, Claridge Israel
B Round
Jul 2021
$10M
Claridge Israel (Lead)
,
Tal Ventures, IBI Tech Fund, Entrée Capital
A Round
May 2020
$7.6M
IBI Tech Fund (Lead)
,
Entrée Capital, Shufersal
Undisclosed Round
Jan 2018
Undisclosed
Spring Ventures
Seed
Jan 2016
$1.5M
Entrée Capital, SeedIL Ventures, Wellborn Ventures
Shopic News
8 articles
growth-positive
Smart Carts May Be The Disruptive Technology Grocery Stores Need Now
Shopic, an AI-powered smart cart provider, is helping grocery stores improve their shopping experience and regain market share. The companys smart carts allow customers to bypass checkout lines, reducing friction and improving customer satisfaction. Shopics smart carts also support retail media displays to highlight location-based promotions, discounts and add-along items. The companys technology is being deployed by several grocery chains, including Albertsons, Kroger, Safeway, Metropolitan Markets and Tom Thumb. According to Shopic, stores using its smart carts have seen a 73% increase in basket size and a reduction in shopping time to 24 minutes.
CustomersPartnersInvestment
growth-positive
Smart Cart Startup Shopic to Present Its Solution at Microsoft Experience Center in Munich
Shopic has partnered with the Microsoft Experience Center EMEA in Munich to showcase its smart cart technology. This collaboration allows Shopic to present its solution to a wide audience and build relationships with potential customers. Shopics solution aims to reduce waiting time at grocery store checkouts and enhance the shopping experience. The company uses computer vision AI algorithms and a clip-on device that attaches to any standard grocery cart. The device displays a running total in real time and offers personalized special offers. Shopic has experienced growth, doubling its employee count, raising $35 million in Series B funding, and deploying pilots in leading retailers across North and South America. The company has also expanded its partnership with Shufersal, Israels largest grocery chain. Shopic recently joined Microsoft at industry conferences and is discussing the potential for further collaboration with Microsoft Experience Centers.
Partners
growth-positive
Startup's clip-on device for smart carts deployed at Shufersal
Israeli startup Shopic has developed a clip-on device for smart carts in supermarkets that uses computer vision and artificial intelligence to identify products without the need for scanning barcodes. The device has an accuracy of 99.4% and allows customers to pay at the cart, eliminating the need for checkout lines. Shopic has announced a deployment of at least 2,000 devices across 30 stores of Shufersal, Israels largest supermarket chain. The company raised $35 million in a series B investment round led by Qualcomm Ventures and has raised a total of $56 million in funding. The article highlights the growing trend of checkout-free shopping technologies in the grocery retail space.
CustomersPartnersInvestment
growth-positive
Shopic raises $35 million Series B for smart cart solution | CTech
Shopic, a company that develops smart cart solutions, has completed a $35 million Series B funding round led by Qualcomm Ventures. The round also saw participation from Vintage Investment Partners, Clal Insurance, and Shopics existing investors. Shopic has raised a total of $56 million to date. The companys digitalization platform for supermarkets is already deployed by leading grocery chains worldwide. Shopics smart cart solution uses an AI-powered clip-on device that turns any standard shopping cart into a smart cart. It recognizes products, presents personalized offers, and allows shoppers to pay and leave the store without going through a checkout line. Shopics solution is deployed in Europe, Israel, and the Americas, with Walmart and Aldi among its clients.
Investment
growth-positive
Shopic Nabs $10M Investment To Expand Use Of Smart Cart Tech
Israeli startup Shopic has raised an additional $10 million in funding, bringing its total equity funding to $21 million. The funding will be used to expand the team and accelerate commercial ventures. Shopic provides mobile self-checkout and AI-powered retail solutions, including a clip-on device that turns a shopping cart into a smart cart using computer vision. The technology improves the customer experience, allows for targeted promotions, collects sales analytics, and enhances store management. Shopic already works with large retailers in the US, Europe, and Israel, and has received positive feedback from customers. Claridge Israel led the funding round, with participation from existing investors. Oded Tal of Claridge Israel will join Shopics Board of Directors.
InvestmentExpand
growth-positive
Shopic Raises $7.6M Series A to Grow Frictionless Checkout to Grocery Stores
Shopic, a startup company that created a computer vision based frictionless checkout platform, has closed a $7.6 million Series A funding round. The funds will be used to expand deployments into existing and new grocery retailers in the US and Europe, as well as invest in research and development. Shopics platform allows grocery retailers to implement a frictionless shopping experience without costly hardware installations. The platform also enables retailers to communicate with customers, offer personalized offers, and generate insights on shopping behavior. The funding round was led by IBI Tech Fund, with participation from Entrée Capital and a strategic investor from the retail industry.
InvestmentExpand
growth-positive
The Internet Of Shopping (IoS) Is A Thing, And It's Growing
The article discusses the concept of the Internet of Shopping (IoS) and how technology is changing the way we shop. IoS goes beyond traditional e-commerce and focuses on using technology to enhance the shopping experience. The article mentions examples such as Amazons Dash Button and startups like Shopic and Vinino that are revolutionizing the way consumers shop. The impact on the company is growth-positive, as IoS can lead to happier customers, higher conversions, and easier access to sales analytics. The key theme of the article is the integration of technology and shopping. The key issues discussed are customers and the need to recruit new positions to support IoS. The article does not mention any specific company or date of the event.
CustomersExpand
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Shopic Team
Employee Info
| Employees (range) | 51-200 |
| Exact count | 86 |
| Team members | 9 |
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Shopic Internal
Recent Updates
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Admin Info
| Confidence | 86/100 |
| Missing | tags, description, markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 515212629 |
| Crunchbase | shopic |
| Creator | Paz Eliav |
| Creator email | paze@cet.ac.il |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | jenny.sotnik@sncentral.org |
| Last update | 2023-08-06T00:00:00.000Z |
| Created | 2015-02-18T00:00:00.000Z |
| Claimed | Yes |