Today, Polish retail startup ZeroQs announced the successful closure of another financing round, which raised €457,000, bringing the company's funding to €757,000.
ZeroQs aims to reduce shopping queues and enhance consumer shopping experiences by developing smart shopping carts, which allow customers to avoid store queues, and help retail chains enhance consumers' shopping experience and manage inventory and security more efficiently.
Equipped with a weighing system, barcode reader and touchscreen, the ZeroQs smart cart definitely makes shopping easier and faster. Customers place items in their cart, scan them with the built-in scanner, and upon completing their shopping, simply leave the store as the due amount is automatically charged to their account.
Advanced weighing and visual systems effectively verify products, protecting retail networks from potential threats like theft, fraud, or customer mistakes.
ZeroQs smart shopping carts are already operating in stores of such chains as Społem and Detal Centrum.
ZeroQs CEO, Jarosław Kaczmarczyk shared:
“The past year has been extremely intensive for us. After a period of research and development and cooperation with partners such as EY and Microsoft, we moved to the commercialisation phase. Introducing our ZeroQS smart carts to the first stores was a significant milestone.”
Personalised recommendations displayed on the screen of ZeroQ’s smart shopping carts allow customers to find the products they are interested in more quickly.
“Customised experiences foster increased consumer satisfaction, creating a feeling of understanding and appreciation during interactions with the brand. ZeroQs carts not only optimise the time customers spend in the store, but also gather important data.
This information, after the anonymisation process, is a valuable resource for retail chains by showing the shopping preferences of different consumer groups.”
The capital comes from the Polish venture capital fund Freya Capital, which decided, as part of the so-called follow-on round, to support ZeroQs for the second time.
Michal Lewandowski, managing partner at Freya Capital, commented:
Observing the rapid growth of ZeroQs and the market itself, we decided to increase our involvement in the company through a follow-on investment.
Retail chains are increasingly interested in accessing data on customer behaviour, and ZeroQs' smart shopping cart could become a key provider of this information.”
The funds will be used to continue the development of smart shopping cart technology, strengthen its position in the domestic market and for international expansion.