This startup develops self-checkout grocery technology that employs artificial intelligence and smart algorithms to create a shopping cart capable of high-accuracy product recognition from above the basket perimeter. By tracking items as they are placed in the cart, the system enables retailers to deliver real-time promotions based on customer location and purchasing behavior, ultimately enhancing the shopping experience and reducing operational costs.
Funding
$25M 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
Grocery retailers face challenges in providing a seamless checkout experience, preventing theft, understanding customer behavior, and managing shopping cart fleets efficiently. Traditional checkout processes can be slow and labor-intensive, while cart loss and theft contribute to operational costs.
Solution
Tracxpoint offers a suite of AI-powered solutions designed to enhance the grocery shopping experience and improve store operations. Their product ecosystem includes the Daivi® AI Smart Shopping Cart, which uses computer vision for product recognition and contactless checkout; the T-Loc® smart locking device for standard shopping carts, which integrates with retailer loyalty apps to prevent theft and gather data; the CHECXiN® cart management system, which incentivizes customers to return carts; and the WAY® indoor positioning system, which tracks cart location in real-time. These solutions provide retailers with data-driven insights into customer behavior, reduce shrinkage, and enable personalized shopping experiences.
Target Audience
Tracxpoint's primary customers are grocery retailers seeking to improve the shopping experience, reduce operational costs, and gain data-driven insights into customer behavior.
Features
- **Daivi® AI Smart Shopping Cart:**
- Employs eight on-board A-Eye® cameras with >99% accuracy for visual product recognition, eliminating the need for barcode scanning.
- Offers a 12" primary display and an 8" basket-facing display for real-time cart content and targeted advertising.
- Provides contactless checkout via integration with existing payment systems or options like Apple® or PayPal®.
- Includes anomaly detection and anti-theft features, alerting store management to suspicious activity.
- Integrates with the WAY® positioning system for location-based smart coupons and personalized offers.
- **T-Loc® Smart Cart Locking Device:**
- Retrofit design for easy installation on standard shopping carts.
- Integrates with retailer loyalty apps for secure cart unlocking via QR code scan.
- Provides real-time cart location tracking and usage data via T-Hub® outdoor and WAY® indoor positioning systems.
- Offers the option to reward customers for returning carts.
- **CHECXiN® Cart Management System:**
- An interactive kiosk that incentivizes customers to return carts with loyalty points and personalized discounts.
- Supports multiple identification methods, including ID number, mobile app QR code, and club member cards.
- Can secure both traditional and Daivi® smart shopping carts.
- Automatically recharges Daivi® carts when returned to the kiosk.
- **WAY® Indoor Positioning System:**
- Utilizes UWB (Ultra-wideband) technology for precise cart location tracking with less than 30cm accuracy.
- Provides real-time heatmaps of shopper traffic patterns.
- Enables in-store navigation and location-based smart coupons.