Smart shopping cart in Nanjing gets unspecified funding
COLDSKY – A cat face, the name icart and the logo “No wallet, No lines”. That is what you find when browsing www.ieemoo.com, a maker of smart shopping cart technology that has just received tens of millions of yuan in Series A fundraising from two lesser-known investing firms, Kunteng and Jinshang.
In addition to indoor location data, automatic payment and tracing common in similar shopping carts that read RFID tags, the icart can identify goods in a cart with high accuracy through computer vision technology.
Xu Bubing, CEO of Ieemoo, said RFID-based cart reading is prone to fraud, but icart is empowered with many sensors to ensure customer shopping integrity – every item in the cart must be scanned and recorded.
It allows customers to finish payment anywhere in the supermarket to simply grab and go without the worry of lines or checkout counters. It also can collect data on customer behavior and assist in targeted marketing.
The company, established in Nanjing City in 2015, believes the solution can lower the cost for supermarkets while improving efficiency and the shopping experience.