Supersmart, a cloud-based software solution that allows retailers to install autonomous fast checkout ‘Scan & Go' systems for their customers, just raised $10 million led by Millennium Food-Tech. Millennium Food-Tech will invest up to $5 million as part of the financing round together with other investors.
Scan here for faster shopping
Supersmart has developed unique technology at store checkouts that saves time and shortens lines at payment terminals, thus has created a quicker and more efficient purchasing experience for customers. Their technology is easy to use; customers install a designated app on their mobile devices, which is suitable for a supermarket or entire marketing chains. Throughout their shopping, they scan their desired purchases, and when they are finished, they simply put their cart through a scanning unit, where cameras, AI, and weighing sensors validate the contents of the cart with what was scanned to the app. All in just 3 seconds! The customer pays through the app and has the receipt sent directly to their mobile phone. So, no more need for standing in long queues- which are especially dreary during these COVID times. If the customer accidentally forgot to scan something, yet still put it in the cart, when the whole cart is scanned at the end, the sensors will automatically add said item to their bill. It reduces theft and scanning errors by more than 90%.
At its core, Supersmart’s technology is responsible for significant reductions in theft or mistakes, through physical validation stations and sophisticated software algorithms that lead to a rapid and convenient purchasing process, combined with a positive customer experience.
The current financing round will be used to support the growth of the company and increase its global customer’s base. It will also be used to continue deploying and increasing sales among existing customers while strengthening and developing its existing technology, expanding marketing of the product to new areas, developing new products, and hiring employees.
Supersmart CFO Ofer Ilan stated, “The belief shown in us by Millennium Food-Tech, as well as existing investors and the world’s leading marketing chains, establishes Supersmart as a leading solution, which upgrades the customer experience, in an easily applied way, and through which checkout lines will become a thing of the past. We are leading the supermarket checkout revolution, which includes a technological app that prevents mistakes and theft. We are excited about the installation of our technology in new markets around the world. Together with the marketing chains, we can provide and lead genuine change in the retail world. The investment in question will help us further the development of the product and expand into additional markets.”
Supersmart, which was founded in 2014 by Yair Cleper. It has raised $20 million to date.