Grocery delivery service Instacart is acquiring Caper AI, a US-based smart retail technology producer backed by supermarket chain Red Apple Group, for a price it told TechCrunch is $350m.
Founded in 2016, Caper has created a shopping trolley that integrates barcode scanning, payment and weight sensors in order to streamline the grocery shopping process. It has also developed a counter which incorporates an automated checkout system.
Instacart said the cash-and-stock acquisition means it will be able to help retailers integrate customers’ online and in-store experiences.
Lux Capital led Caper’s $10m series A round, in September 2019, which also featured Red Apple, First Round Capital, Y Combinator, Hardware Club, FundersClub, Sidekick Fund and unnamed strategic investors.
The company had taken its total funding to $3m in January 2019 with a $2.15m seed round led by First Round that included Hardware Club, FundersClub, Y Combinator, Cogito Ventures, Redo Ventures and angel investors Max Mullen, Nick Taranto and Jenny Fleiss.
