Milan, Italy – Tracxpoint, a leading retail technology company, is pleased to announce the successful completion of a substantial equity funding partnership with Conad Nord Ovest. This significant investment will fuel Tracxpoint’s mission to provide grocery retailers with the tools and systems needed to enhance their operations, combat theft, and vastly improve the overall shopping experience.
The funding will be utilized to:
1. Scale Operations: Increase the production of Daivi® carts, modular parts, and systems for expedited delivery across the globe.
2. Research and Development: Daivi® performance optimizations, enhancement of existing and new Anti-theft features. Developing of a new type of weight scale powered by artificial intelligence and machine learning.
3. Market Expansion: Additional European partnerships, Australia/Oceana, and North America.
Prof. Mo Meidar, Chairman and Co-Founder of Tracxpoint, expressed gratitude for the support and confidence shown by this investment. “We are thrilled to have the backing of such an esteemed company who shares our vision for advancing the grocery retail experience into the next phase of its digital evolution. This investment is a testament to the hard work and dedication of our entire team. With these funds, and a new strategic partner, we are well-positioned to accelerate our growth and take Tracxpoint to new heights, and into new markets.”
A representative from Conad, shared their excitement about partnering with Tracxpoint. “Tracxpoint has demonstrated remarkable potential in the AI for retail and Digital Vision space, and we believe that our investment will not only drive their success but also contribute to the advancement of the entire retail industry as a whole.”
About Conad
Created in 1962, Conad is one of the largest supermarket cooperatives in Italy, and is a leader in environmentally friendly solutions that promote the reduction of solid waste, including biodegradable and reusable fabric options. Conad recently developed an onboard payment system, PassPay®, specifically designed for use with Tracxpoint’s Daivi® AI smart shopping cart.
For media inquiries, please contact:
media@tracxpoint.com
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