Stor.ai raises $21m for grocer focused digital transformation platform
Stor.ai, which has developed a digital commerce solution for grocers, has raised $21 million in an extended Series A round led by Meitav Dash and Mizrahi Tefahot, and supported by existing backer Kli Capital and individuals including Mayer Gniwisch.
The venture, formerly known as Self Point, will use the capital to integrate new features into its core offering, accelerate growth in North America, and enter into new markets in Latin America and Europe.
Stor.ai provides grocers with such tools as an e-commerce solution integrated with their PoS systems, and Picker-App, which customises and maps in-store fulfilment.
“I am delighted to see us build on the 250% year-on-year growth we achieved over the past 12 months and begin an exciting new era for the company, in which we are set to expand both our product offering and our customer base,” says Orlee Tal, CEO, Stor.ai.
“Our digital transformation platform provides a win-win scenario for customers and grocers alike.”
“Shoppers replicate the in-store experience at their favourite stores, while stores can seamlessly integrate a range of digital solutions at a time when facilitating online shopping is integral to their business. Customer first commerce is the future of this industry.”
Guy Mani of Meitav Dash comments: “Online grocery shopping continues to capture record market shares, with Stor.ai ideally placed to build on its current growth and expand throughout 2021 and beyond.”
“Customers’ needs and preferences are constantly evolving, and we trust Stor.ai’s experience, market leadership and ability to help shape future trends with flexible and creative solutions that will enhance the entire customer-based experience for any retailer.”
