Shopic Raises $35M in Series B Funding

Photo credit: Shopic

Shopic, a Tel Aviv, Israel-based grocery shopping cart startup, raised $35M in Series B funding.

The round was led by Qualcomm Ventures, with participation from Vintage Investment Partners, Clal Insurance, IBI Tech Fund, Tal Ventures, Claridge Israel and Shufersal.

The company intends to use the funds to expand penetration to global markets.

Led by CEO Raz Golan, 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. 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. It delivers a smooth shopping experience, instant on-cart checkout, just-in-time personalized promotions, and analytical insights from the retail floor. Shopic’s solutions are already deployed by several grocers in Europe, the Americas and Israel.