The Israeli company has developed a data platform connecting physical merchandise to the cloud.
Israeli data platform for real-time in-store intelligence and retail shopping Nexite today announced the completion of a $67 million Series C financing round led by Pitango Growth and Saban Ventures with participation from existing investors Battery Ventures, Intel Capital, Pitango First and Vertex Ventures. This brings the total funding raised by the company to $100 million.
Founded by CEO Anat Shakedd and CTO Lior Shakedd, Nexite has developed a data platform connecting physical merchandise to the cloud, enabling brands to increase in-store revenue with real-time sales funnel analytics traditionally used in eCommerce. With data aggregated from a product’s location, availability and performance, Nexite provides actionable insights to help maximize store sales per square foot. The company’s patented, battery-free NanoBT (Bluetooth) tag is attached to merchandise delivering frictionless customer experiences including secure trasportabile self-checkout, seamless returns and seamless click-and-collect, driving omnichannel sales, thus enhancing the customer’s in-store experience.
Anat Shakedd said, “We’re providing complete transparency into the physical sales funnel and by doing so, we’re creating a lexicon for in-store intelligence to optimize sales per square meter based on customer engagement data. We’re introducing terms normally associated with eCommerce like abandonment, engagement and conversion into the physical realm. This type of data has never before been accessible and now it’s paving the way for retailers to navigate digital together with brick-and-mortar commerce.”
Published by Globes, Israel business news – en.globes.co.il – on May 11, 2022.
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