Market Overview

Tracxpoint Signed a Major Agreement to Deploy its Artificial Intelligence Cart (AiC®) Platform at CONAD, One of the Largest and Most Sophisticated Supermarket Chains in Italy with 3,000 Locations in Lieu of Amazon Go after Intensive Study

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Tracxpoint,
a global provider of next-generation self-checkout grocery solutions,
today announced an agreement to roll out its Artificial Intelligence
Cart (AiC®) at CONAD DEL TIRRENO, one of the seven cooperatives of
CONAD's chain with more than 3,000 supermarket stores in Italy. This is
a major milestone for the Israeli startup in its mission to establish
the AiC® platform as the most powerful, accessible and
comprehensive solution for self-checkout and personalized in-store
engagement on the market today. CONAD DEL TIRRENO will start
implementing the AiC® ecosystem during 2019.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20181210005176/en/

The Tracxpoint AiC enables checkout-free stores and personalized in-store engagement for Italy's lar ...

The Tracxpoint AiC enables checkout-free stores and personalized in-store engagement for Italy's largest supermarket chain, CONAD. (Photo: Business Wire)

In direct contrast to capital-intensive and smaller store concepts like
Amazon Go or its imitators that rely on ceiling cameras for
location-based processing, the Tracxpoint AiC platform uses a first of
its kind AI connected shopping cart that leverages on-cart cameras
coupled with built-in weight sensors and powerful GPUs. The AiC will
identify each item added to and deducted from the cart and automatically
process on-cart transactions and payment upon leaving the store.

"CONAD has committed to deploying ‘game changers' for the future of our
physical stores. The AiC is not just a complete new smart shopping cart
with breakthrough design that can visually detect food and non-food
products; it is an entire ecosystem for bringing digital convenience to
the physical store - and it will be a relevant factor in keeping our
loyal customers coming back," said Maurizio Barsacchi, CIO CONAD DEL
TIRRENO. "Without requiring any cloud connected infrastructure, each AiC
recognizes items visually – even in a free fall mode – a distinct
advantage against competing concepts that merely rely on the store
planogram or location of products. It will be the beginning of a
completely new in-store experience."

The AiC® platform also separates itself from the competition
through a variety of unique real-time features, including an on-cart
screen that provides access to shopping lists, sends personalized
special offers and store navigation. An additional patented feature is
an on-cart real-time bidding system for suppliers and comprehensive data
mining. Moreover, the GDPR-compliant data mining tool protects customer
data and ensures that retailers fully own their customer relationships.

"Tracxpoint provides a unique mix of expertise in the exciting new world
of deep learning and the classical realm of computer vision," said Gidon
Moshkovitz, Co-Founder and CEO, Tracxpoint. "Our new Retail AI Engine
integrated in the AiC® is built to instantly recognize and register more
than 100K products, which allows us to adapt it to different customers
and to fulfill different requirements beyond grocery. Since launching
our first solution two years ago in more than 150 stores across Israel,
we've seen considerable excitement in the market for a minimally
disruptive platform that addresses multiple pain points of in-store
retail at a fixed monthly cost. We are bringing new levels of
technology, convenience and value to customers and retailers that no
existing solution offers. We eagerly anticipate completing other
significant contracts in the US and the EU in 2019 as the AiC becomes
the gold standard for all size stores' self-checkout and in-store
customer engagement platforms."

"Despite the significant changes to most areas of daily life since the
invention of the shopping cart in 1937, the look and functionality of
the cart has remained exactly the same," said Edi Bahous, CTO,
Tracxpoint. "We decided to change it completely and design a totally
modern concept, implementing the newest hardware and software
technologies and enabling 5G connectivity, all while keeping the
intuitive and simple usability shoppers expect and require. Just as 2006
marked the beginning of the smartphone revolution, 2020 will be the
beginning of the new era in retail with our AiC."

About Tracxpoint

Tracxpoint is a leading global provider of next-generation self-checkout
grocery solutions. Its unique Artificial Intelligence Cart (AiC®)
platform offers convenient personalized online shopping experiences to
grocery shoppers like never before. Established in 2016 by founders with
a combined 80 years of experience, the company is changing the grocery
shopping experience by integrating ground-breaking AI and sensor fusion
technology inside a smart AIoT shopping cart architected by legendary
luxury auto designers. Tracxpoint's three flagship products are the
Terminal Cart Management System, the Artificial Intelligence Cart (AiC®)
and the AiC® mobile app SDK. The platform gives retailers
real-time analytics while also providing the opportunity for more
conversions and increased revenue, efficiency and reduced operating
costs by offering customers a more personalized and value-added shopping
experience. For more information, visit www.tracxpoint.com.

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