Knap offers the Ikart, a connected shopping cart equipped with an AI-driven platform that streamlines in-store checkout by automatically updating the purchase ticket as items are scanned. This technology reduces checkout time by 60% and minimizes errors and fraud by 84%, enhancing the overall shopping experience while improving operational efficiency for retailers.
Funding
$3.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional self-checkout systems in retail environments often lead to increased shrinkage due to unintentional errors and intentional fraud, resulting in financial losses for retailers and frustrating experiences for customers due to random security checks. Existing self-scanning solutions can also be cumbersome, requiring significant infrastructure investment and potentially leading to longer checkout times during peak hours.
Solution
Knap provides the Ikart, a smart shopping cart platform designed to streamline the in-store checkout process and reduce losses. The Ikart features a tablet-based interface that attaches to standard shopping carts and uses AI-powered scanning to automatically update the customer's purchase ticket as items are added. This system enables shoppers to scan and bag items as they shop, significantly reducing checkout time and minimizing the need for manual intervention. The integrated AI monitors for errors and suspicious behavior, alerting store personnel to verified issues with video evidence, enabling targeted interventions and reducing unnecessary security checks.
Target Audience
The primary target audience includes grocery stores, supermarkets, and other retail businesses seeking to reduce checkout times, minimize losses from errors and fraud, and enhance the overall shopping experience for their customers.
Features
- Tablet-based interface that attaches to existing shopping carts
- AI-powered scanning system for automatic purchase ticket updates
- Real-time tracking of scanned items and purchase totals
- Integrated payment processing for quick and easy checkout directly from the cart
- AI-driven fraud detection and error monitoring with video evidence capture
- Digital shopping list integration with AI-powered suggestions based on past purchases and recipes
- Retail Apps providing product information, nutritional data, and allergen alerts
- Integration with loyalty programs and personalized promotions