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stor.ai Raises $21M, Signaling New Era for Online Grocery Shopping

 Stor.ai’s latest funding to empower grocers worldwide to manage their digital transformation

Stor.ai (fka Self Point), the end-to-end digital commerce solution for grocers, today announced that it has raised $21M in an extended Series A round led by Meitav Dash and Mizrahi Tefahot, and supported by existing investor Kli Capital and individual investors including Mayer Gniwisch. Stor.ai will use the capital to integrate new, next generation features into its core offering, accelerate the company’s growth in North America, and enter into new markets in Latin America and Europe, helping grocery stores thrive in an increasingly digitized market.

The grocery industry is facing one of the most transformative years in the wake of the Covid-19 pandemic, with the projected total value of digital grocery sales in 2025 now some 60% higher than pre-pandemic estimates. Yet the rising popularity of online grocery shopping in general has often come at the cost of customer loyalty to their preferred brick and mortar retailers. While some grocers have implemented eCommerce solutions or apps to quickly meet consumer demands, these platforms are not a viable strategy for long term profitability and risk decreasing brand loyalty and ultimately putting grocers out of business.

Stor.ai provides all grocers, from smaller local retailers to national chains with hundreds of branches, with the tools to build and manage their own catalogue of inventory and leverage advanced fulfilment methods to propel online business and meet growing consumer needs. Stor.ai’s quick time-to-market empowers grocers to swiftly move online, ensuring that customers continue to have the positive experience they already associate with the brand.

The latest funding will accelerate stor.ai’s go-to-market of new, next-gen in-store shopping technology. These new AI-based tools will complement stor.ai’s existing flagship offerings, which include an eCommerce solution seamlessly integrated with grocers’ POS systems, and stor.ai’s Picker-App, which customizes and maps in-store grocery fulfillment. With its broadened product suite, stor.ai will further empower retailers to offer shoppers a holistic, customer-first experience, whether they prefer to shop in-store or online.

“I am delighted to see stor.ai build on the 250% year-on-year growth we achieved over the past twelve 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,” said 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 favorite 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.”

As a result of the funding round, stor.ai will also continue its growth and expansion in North America and broaden its development into new markets in Latin America and Europe. At present, stor.ai works with hundreds of grocers in North America and worldwide to implement bespoke digital systems.

“Stor.ai has established a reputation as a market leader providing top-of-the range technological solutions, helping retailers realign to customers’ needs during the most challenging time for business in recent history,” said Guy Mani, Meitav Dash’s CIO for provident and pension funds, Meitav Dash. “We are proud to support such exciting eCommerce products, as 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.”

About Stor.ai

Stor.ai (fka Self Point) is the leading digital transformation partner for retailers and wholesalers of all sizes, providing immersive and enriching experiences across digital touchpoints inside and outside the store. Serving as a change agent for the industry, the stor.ai technology suite supports food retailers’ transition to online, integrating fulfilment methods and point of sale and retail catalogues into a mobile-first, custom-branded eCommerce experience within days. stor.ai’s digital commerce engine combined with Artificial Intelligence, omnichannel marketing tools and delivery logistics software, elevates customer experience and loyalty and results in increased sales and profit. Founded in 2014, stor.ai has a growing client and partner base including Unilever, Toshiba, Microsoft and more.

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Justine Rosin
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Stor.ai Expands Personalization Capabilities Pushing New Boundaries to Support Grocers

 The launch of the Smart Basket will be the first of many AI-powered personalization tools bringing the in-store experience seamlessly to the home

TEL AVIV, Israel, Feb. 17, 2021 /PRNewswire/ — Stor.ai, the end-to-end digital commerce solution for grocers, today announced the launch of its Smart Basket, in addition to other personalization tools to meet the shifting industry. Harnessing AI to support personalization efforts, the Smart Basket will make online grocery shopping more experiential, seamless and simple.

In a highly competitive eCommerce landscape, grocers understand that customers want the convenience of online shopping with the familiarity of a local grocery store. While last mile solutions were an easy solution initially, the cost in terms of brand loyalty and access to key customer data has become increasingly apparent. Thus, the critical next step in the evolution of online grocery is the development of personalization strategies.

Stor.ai’s AI-powered Smart Basket is a robust tool that guides the purchase journey and is tailored to individual customers. Customers will benefit from intuitive experiences including product promotions, option to repurchase a “one-click” basket, reminders based on previous purchase history and recommendations for alternative or complimentary products. Grocers can also simulate in-store comforts and personal touches, boost their own private label products, all while providing an efficient and seamless shopping experience. The launch of the Smart Basket is one of many products in Stor.ai’s suite of tools designed to provide personalized efficiency for online grocery. Others include personalized home pages, search engines and personalized recommendations for simple product discovery.

Combining the personalization tools with Stor.ai’s flagship POS Integration system and Picker-App, grocers can ensure their inventory is efficiently managed and every order is easily fulfilled. As a result, grocers can have an effective and personal cart-to-door fulfilment process, providing a superior experience for their customers.

“Our personalization tools are helping grocers differentiate themselves from competitors,” said Irit Fridlis Weinstein, VP Strategy and Innovation of Stor.ai. “For most shoppers, digital grocery shopping is all about the convenience it offers. By creating personalized experiences, customers are more engaged with brands and are encouraged to repeat purchases, which is key for grocers to grow and maintain operations. We look forward to continuing to help grocers effectively and innovatively connect with their customers in a digital world.”

“We are thrilled to expand our personalization offerings which further strengthens our position as the market leader in providing retailers with an entire digital ecosystem to help them sell online easily, and scale up their operations’ profitably,” said Mendel Gniwisch, EVP of Business Development at Stor.ai. “With Stor.ai, grocers can customize digital technologies to suit their business needs from our vast ecosystem of tools.”

About Stor.ai

Stor.ai (fka Self Point) is the leading digital transformation partner for retailers and wholesalers of all sizes, providing immersive and enriching experiences across digital touchpoints inside and outside the store. Serving as a change agent for the industry, the stor.ai technology suite supports food retailers’ transition to online, integrating fulfilment methods and point of sale and retail catalogues into a mobile-first, custom-branded eCommerce experience within days. stor.ai’s digital commerce engine combined with Artificial Intelligence, omnichannel marketing tools and delivery logistics software, elevates customer experience and loyalty and results in increased sales and profit. Founded in 2014, stor.ai has a growing client and partner base including Unilever, Toshiba, Microsoft and more.

Media Contact
Justine Rosin
Headline Media
Justine@headline.media
IL:+972 54 885 9141
US:+1 917 724 2176

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Stor.ai (formerly Self Point) Launches New Capability to Help Grocers Accept Food Stamps Online

Amidst the recent surge in online grocery shopping, Stor.ai now enables recipients of food stamps to order groceries from the safety and comfort of their own home

TEL AVIV, Israel, Jan. 19, 2021 /PRNewswire/ — Stor.ai, (fka Self Point) the end-to-end digital commerce solution for grocers, today announced the launch of a new capability which enables retailers of all sizes to accept and process digital transactions involving food stamps.

As of July 2020, over 40 million Americans participated in the Supplemental Nutrition Assistance Program (SNAP), a means of supplementing the food budgets of families in need. Most ecommerce providers have typically not accepted food stamps, requiring shoppers to visit stores in-person – which is increasingly seen as a health risk in the wake of the Covid-19 pandemic, especially for elderly people or other at-risk groups. Thanks to Stor.ai’s latest innovation, grocers can reach out to a wider clientele, including families using food stamps to purchase grocery products when conducting online orders.

“Technology which enables SNAP participants to carry out their regular shopping online is a win-win scenario for grocers and low-income families alike,” said Eli Yeheskel, Director of U.S. Operations of Stor.ai. “Millions of food-stamps customers will now be able to shop online and pay for groceries using their food-stamps account. Meanwhile, grocers will be able to significantly expand their reach – a real game-changer for smaller community stores.”

Most SNAP payments today are made through EBT (electronic benefit transfer) payment cards. Stor.ai now enables grocers to accept split payments involving multiple payment methods, as well as automatically adding virtual tags to retailers’ online interfaces displaying which items are EBT-eligible.

“I am proud that Stor.ai is at the forefront of another paradigm shift as we work towards accelerating digital transformation within the grocery industry as a whole,” said Orlee Tal, CEO of Stor.ai. “Retailers must embrace technology and digitization in order to maintain and expand their client bases, especially given the growing popularity of online grocery shopping. At Stor.ai, we prioritize our customers to fully understand their needs, and we identified clear demand for tools which enable grocers to cater for recipients of food stamps.”

Stor.ai’s new capabilities form part of a digital ecosystem of solutions which enable grocers to execute and scale their digital transformation. Stor.ai’s flagship offerings include a quick-time-to-market eCommerce solution seamlessly integrated with grocers’ POS systems as well as Stor.ai’s Picker-App which customizes and maps in-store grocery fulfillment. In 2020 alone, the company has seen 250% year over year growth.

About Stor.ai

Stor.ai (fka Self Point) is the leading digital transformation partner for retailers and wholesalers of all sizes, providing immersive and enriching experiences across digital touchpoints inside and outside the store. Serving as a change agent for the industry, the stor.ai technology suite supports food retailers’ transition to online, integrating fulfilment methods and point of sale and retail catalogues into a mobile-first, custom-branded eCommerce experience within days. stor.ai’s digital commerce engine combined with Artificial Intelligence, omnichannel marketing tools and delivery logistics software, elevates customer experience and loyalty and results in increased sales and profit. Founded in 2014, stor.ai has a growing client and partner base including Unilever, Toshiba, Microsoft and more.

Media Contact
Justine Rosin
Headline Media
Justine@headline.media
IL:+972 54 885 9141
US:+1 917 724 2176