IntraPosition, an Israeli-based tech startup that brings innovative indoor geo-location technology to retailers, has closed a $1.5 million financing round led by Terra VP together with European angel investors, managed by Champel Capital. The funds will be used for the company's growth and development plans.
IntraPosition offers highly-accurate in-store location-based services, utilizing ultra-wideband (UWB) wireless technology to digitize traditional grocery stores. IntraPosition’s solution provides one-foot positioning accuracy, enabling shopper navigation and personalized messaging services at the shelf level; support for more efficient in-store, online order fulfillment; and granular analytics data, which helps to pinpoint consumer behavior while shopping.
The analytics the solution brings is as a digital finger on the store’s pulse, empowering store managers with queue management tools, shopping routes insights, high-resolution heat-maps, A-B testing tool, and campaign effectiveness analysis. Also, the solution offers a dedicated tool to the pickers who are increasing their presence at the stores, facilitating an up-to 30% decrease in online orders picking-time.
IntraPosition was founded in 2015 by CEO Yaron Shavit and is based in Binyamina midway between Tel Aviv and Haifa. The company's main activities are in North America with paid demos in large leading grocery retailers. IntraPosition’s solution is based on a physical device installed to any shopping cart or basket. The shopper is then prompted to scan a QR code on his phone to enjoy an enhanced shopping experience using the retailer’s mobile application.
Intraposition offers solutions in other indoor industries such as mining where it provides a real-time capture of the personal and machinery and in the health industry by locating expensive medical machinery throughout the hospital increasing employees time management, efficiency.
Shavit said, "We are getting a lot of interest from leading retail companies and retail app providers in North America and Europe. This proves to us how essential this service is and how it fits in perfectly with market needs. Our services easily integrate with any mobile app, whether developed in-house by the retailer or by a third party, application provider. One of our primary goals at IntraPosition is to digitize brick-and-mortar grocery stores and help retailers provide a more personalized and context-aware shopping experience, to their customers."
Published by Globes, Israel business news - en.globes.co.il - on October 16, 2018
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