Israeli automated checkout startup Supersmart has raised $10 million in a fundraising round led by Millennium Food-Tech.
The company which supplies stores with ‘Scan & Go,’ an AI-powred fast checkout technology, raised $10 million 11 months ago with support from Bizerba.
Bezerba, a German market leader in slicing, logistics, weighing, and labeling systems for retail chains is Supersmart’s largest stakeholder.
Millennium Food-Tech, a partnership listed on the Tel Aviv Stock Exchange, will invest up to $5 million in the round. An amount of $3 million was invested in the first stage of the SAFE investment agreement, which also involves participation from other funds and investors.
Millennium Food-Tech, led by CEO Chanan Schneider and Chairman Guy Rosen, will invest $3 million in the first round of the SAFE investment agreement.
This is Millennium Food-Tech 10 investment since the company’s initial public offering 18 months ago.
Founded in 2014 by CEO Yair Cleper and CTO Barak Abitbol Supersmart, employs 40 people in Israel. Customers including Metro, Edeka, Selgros, and installation has begun at significant retail chains in the United States.
In Israel, Superstore’s system is implemented in Osher Ad supermarket chain, which is also a shareholder.
“Millennium Food-confidence Tech’s in us, as well as that of existing investors and the world’s leading marketing chains, establishes Supersmart as a market-leading solution that significantly improves the customer experience in an easy-to-implement manner, and through which checkout lines will become obsolete,” said Supersmart CFO Ofer Ilan.