Nexite

Nexite is an Israel-based platform that provides automated checkout and automated stocking and shelving solutions. The company’s proprietary Bluetooth technology NanoBT is a long-range, batteryless technology that enables streaming real-time data from shelf items. NanoBT tags are small enough to be stitched into products, use anti-theft technology, and are readable by smartphones. The company offers a connected merchandise platform that routes real-time data automatically from every product through fixed readers and processes it in the cloud to generate insights and digital solutions.

The company’s automated stocking and shelving solution Live Shelves provides the store operators live alerts on products that require restocking and generates insights related to consumer engagement (e.g., which shelves the customers engage with, what products catch the customer’s eye). Additionally, it provides optimized solutions for product positioning and merchandising and a live merchandise solution that allows item-level intelligence through the entire product lifecycle of a product. It also allows tracking of merchandise items from the factory floor level to the showroom.

The company’s automated checkout solution Buy & Go is a mobile app-based contactless shopping solution. Customers can use their mobile app to scan the products they want to purchase and make a payment. When the payment is complete, the items will automatically disarm an alarm. Additionally, the company offers Pick & Go, which allows customers to place online orders and pick the order from the store, scan the products using the phone to disable the alarm, and leave the store with the products. The company also offers a Return & Go product that allows customers to drop off their returns at a designated location at the store. Subsequently, the products will be verified automatically and their alarms will be reactivated.

In May 2022, Nexite raised USD 67 million in Series C funding, bringing the company’s total funding to USD 100 million. The funding round was led by Pitango Growth and Saban Ventures with participation from existing investors Battery Ventures, Intel Capital, Pitango First, and Vertex Ventures.