Nexite, a technology firm based in Israel, has recently announced that it has secured a significant amount of funding to further develop its platform aimed at enhancing the physical retail experience. This funding injection brings Nexite’s total funding to $100 million, giving the company a solid foundation for its goal of revolutionizing the retail industry.
The platform developed by Nexite offers real-time data directly from merchandise to physical retailers. This data provides valuable insights into customer behavior, accurate inventory records, streamlining of the checkout process, and improving returns. By harnessing this data, retailers can optimize their sales strategies and prevent losing customers to online alternatives.
Nexite’s recent funding success has come from its Series C funding round, which raised $67 million. Funding was led by Pitango Growth and Saban Ventures, with existing investors Battery Ventures, Intel Capital, Pitango First, and Vertex Ventures also participating. This shows strong support for Nexite’s platform and its potential to disrupt the retail industry.
Nexite’s platform is built on a data platform that connects physical merchandise to the cloud. This innovative technology allows brands to increase in-store revenue by utilizing real-time sales analytics traditionally used in e-commerce. The company’s NanoBT (Bluetooth) tag, a battery-free and patented technology, is attached to merchandise to provide a frictionless customer experience. This tag enables secure mobile self-checkout, seamless returns, and click-and-collect services, driving omnichannel sales and enhancing the customer’s in-store experience.
Anat Shakedd, CEO of Nexite, explains that the platform provides complete transparency into the physical sales funnel. By basing in-store intelligence on customer engagement data, Nexite is bringing e-commerce concepts such as abandonment, engagement, and conversion into the physical realm. This type of data has previously been inaccessible, but Nexite’s platform is breaking new ground and empowering retailers to navigate both the physical and digital retail domains.
With its recent funding success, Nexite is well-positioned to revolutionize the way retailers operate in the physical retail space. By leveraging real-time data and integrating it with the in-store experience, retailers can make informed decisions, optimize sales, and provide a seamless shopping journey for customers. As the retail industry continues to evolve, solutions such as Nexite’s platform will play a crucial role in bridging the gap between physical and digital retail worlds.
Useful Links:
1. [Nexite’s official website](https://www.nexite.io/)
2. [Pitango Growth](https://www.pitango.com/growth-ii)
