Israel’s AI-powered shopping cart device developer A2Z Cust2Mate Solutions Corp (NASDAQ: AZ) saw its stock price rise by over 34 per cent Thursday. The rally is attributable to a newly announced installation and deployment deal with Costa Rica’s retail tech company Trixo.
Through the new framework agreement, A2Z has agreed to install its device on Trixo’s shopping carts before eventual deployment in Mexico and Central America. A2Z will provide maintenance services too.
“As the leading retail technology service company in Central America and Mexico, we are excited to partner with the A2Z Cust2Mate as they bring their game changing platform to leading retailers in the region,” Trixo’s Chairman of the Board, Roberto Campos, said in a news release.
The smart cart tech is capable of weighing produce and other items through a scale linked to the shopper’s panel. Users can search for products on the panel to avoid having to waste time looking for them in-store.
If you put an item into your cart without scanning it the Cust2Mate 3.0 Smart Cart will notify you. Through a self checkout feature, it eliminates the need for standing in lines.
It can even recommend ingredients needed for a meal.
A2Z implemented a 1-for-2.5 reverse share split on Oct. 8 — another factor leading to Thursday’s surge.
Read more: Big Tech looks into nuclear power options for artificial intelligence development
Read more: Palladyne AI flies high after completing first phase of U.S. Air Force contract
A2Z Cust2Mate brings its smart cart tech to France
Cust2Mate 3.0 Smart Carts became available at Franprix grocery store chain locations a couple months ago.
The company’s CEO, Gadi Graus, met with French government officials in late September to discuss A2Z’s commercial relationship with the nation’s retail market.
“In difficult times of threats to Israel, sadness over the absence and death of people dear to us, uncertainty, employees who went on reserve duty, we managed to launch a smart cart project at a branch of the Franprix chain in Paris,” VP of Business Development and Strategy, Hila Kraus, said on LinkedIn last month.
Last week, A2Z received an additional order to deploy the tech at another 10 Franprix locations.
“The grand launch of our smart carts was a HUGE success,” the company said in August. “Franprix customers were able to shop independently, avoid long lines, and enjoy a seamless enriched shopping experience.”
rowan@mugglehead.com
