What is Shopic?
Shopic is at the forefront of retail innovation, leveraging artificial intelligence and computer vision to create more personalized and seamless shopping experiences. Their technology suite includes smart carts powered by vision, advanced loss prevention systems, and real-time analytics designed to optimize retail operations and mitigate losses. By focusing on large-scale retailers, Shopic aims to integrate its solutions with minimal disruption, thereby improving shopper behavior insights and overall performance. The company's vision is to usher in an era of intuitive, data-driven retail that boosts both customer satisfaction and profitability.
How much funding has Shopic raised?
Shopic has raised a total of $52.6M across 3 funding rounds:
Series A
$7.6M
Unspecified
$10M
Series B
$35M
Series A (2020): $7.6M with participation from IBI Tech Fund and Entrée Capital
Unspecified (2021): $10M led by Tal Capital, IBI Tech Fund, Claridge Israel, and Entrée Capital
Series B (2022): $35M supported by Qualcomm Ventures, Clal Insurance, and Vintage Investment Partners
Key Investors in Shopic
Qualcomm Ventures
Qualcomm Ventures is a global corporate venture firm that invests in early to growth stage technology companies, aiming to support entrepreneurs in building revolutionary businesses. With over 25 years of experience, the firm has a portfolio of 360 companies and manages $2 billion in assets. Qualcomm Ventures provides access to leading technology, domain expertise, and a robust network to help companies scale effectively. The firm focuses on various sectors including AI, automotive, mobile, enterprise, and smart systems.
Clal Insurance
Clal Insurance, founded in 1987 and headquartered in Tel Aviv, Israel, is an insurance company offering travel, life, health, home, car insurance, and more.
Vintage Investment Partners
Founded in 2003, Vintage Investment Partners is headquartered in Israel, with a strong footprint in U.S. and Europe, and over $3.6 billion in assets. The company's role is to be the company's Portfolios blue collar investor and trusted partner, who helps them succeed by delivering invaluable insights, uncovering the right opportunities, and connecting them with other difference makers. The company do all of this by leveraging a detailed, proprietary database of over 21,400 investors and partners. Thats the definition of Vintage.
What's next for Shopic?
With its recent major strategic investment and substantial total funding, Shopic is well-positioned for significant expansion and technological advancement. The company's focus on AI and computer vision in the retail sector aligns with a growing industry trend towards data-driven operational improvements and enhanced customer engagement. This capital will likely fuel further research and development into their innovative solutions, such as vision-powered smart carts and loss prevention systems. Shopic's strategic backing suggests a trajectory towards scaling its operations, forging deeper partnerships with major retailers, and solidifying its market leadership in transforming the in-store retail experience.
See full Shopic company page
