Nexite Closes $100M Funding for Its Revolutionary Connected Goods Platform Providing E-Commerce Level Intelligence for Physical Retail Stores

Launched as retailers increase their technology investments to digitize stores, Nexite delivers personalized and seamless in-store customer experiences based on real-time data

TEL AVIV, Israel, May 11 2022 /PRNewswire/ — Nextthe pioneering data platform for real-time in-store intelligence and truly transparent retail shopping, today announces a $67 million Series C investment led by Pitango Growth and Saban Ventures with participation from existing investors Battery Ventures, Intel Capital, Pitango First and Vertex Ventures. This round brings the company’s total funding to $100 million.

Founded by Anat and Lior Shakedd, Nexite has developed a data platform connecting physical merchandise to the cloud, enabling brands to increase in-store revenue through real-time sales funnel analytics traditionally used in e-commerce. With data aggregated from a product’s location, availability, and performance and aligned with customer journey behavior, Nexite delivers actionable insights to help maximize in-store sales per square foot. The company’s first-of-its-kind, battery-free patented NanoBT (Bluetooth) tag is attached to merchandise providing frictionless customer experiences, including secure mobile self-checkout, seamless returns, and one-click-and-one-click. collections, boosting omnichannel sales and improving the in-store customer experience.

Forrester predicts brick-and-mortar stores will continue to drive the bulk of U.S. retail sales for the foreseeable future, and retailers are looking to optimize brick-and-mortar locations to deliver next-gen customer experiences, but they still have limited visibility. on the sales funnel and the customer journey. inside physical stores. This leads to an inability to understand what drives engagement and how to optimize merchandise performance. Additionally, existing in-store inventory management solutions typically require a significant amount of manual labor from sales staff. Nexite provides retailers with item-level intelligence across the product lifecycle to optimize in-store assortment performance, track consumer engagement, and automate traditional staff processes.

“We provide full transparency in the physical sales funnel and in doing so, we create a lexicon for in-store intelligence to optimize sales per square foot based on customer engagement data,” said Anat. Shakedd, co-founder and chief executive officer at Nexite. “We are bringing terms normally associated with e-commerce like abandonment, engagement and conversion into the physical realm. This type of data has never been accessible before and is now paving the way for retailers to navigate digital with physical trade.”

Isaac Hillel, Managing Partner at Pitango Growth, said, “The continuous flow of commodity data is reinventing physical retail into live digital solutions. Nexite’s advanced technology is gaining huge popularity in the market. necessary category, and we are excited to continue our initial investment with Pitango First through this final cycle. »

“The continuous flow of commodity data and resulting analytics are transforming retailers globally,” adds Barak Pridor, Managing Partner at Saban Ventures, “Nexite’s industry-leading solution is driving meaningful business outcomes that don’t have never been achieved before in this space. We are very proud to join this incredible team on their journey.”

Nexite’s technology includes:

  • Seamless customer experiences that drive omnichannel sales
    • Secure mobile self-service payment
    • Click and collect without contact with the customer’s phone
    • Seamless returns require no staff
  • Understand why customers buy or drop goods, which goods sell well together, which shelves or places attract the most attention, how to optimize product placement
  • Analyze full-funnel data to optimize decisions and sales – awareness, engagement, conversion, abandonment and positioning
    • Provides cloud-controlled item-level anti-theft security, enabling secure mobile customer experiences.
  • Shelf awareness – receive notifications when a shelf is empty
  • Automated tracking of goods from factory to customer closet, providing real-time physical store inventory with no manual scanning required

About Nextite

Nexite’s pioneering connected merchandise platform delivers invaluable, first-of-its-kind real-time in-store sales intelligence aligned with customer behavior for sales optimization. Leveraging world-class engineering expertise, Nexite’s platform includes battery-free, long-range communications technology that delivers a continuous stream of data, automatically and in real time. Nexite maximizes merchandise performance to drive in-store revenue for all physical retail markets and enables completely seamless shopping, including seamless checkouts and returns. Please visit Nextite.io for more information.

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Diane McKaye
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SOURCE Nextite