Polish retail startup ZeroQs receives €450k in funding
Warsaw-based ZeroQs has received €450,000 (2 million PLN) of financing from Freya Capital as follow-on investment. It will be used to develop its smart shopping cart technology and intensify expansion, ZeroQs informed AIN.Capital.
- ZeroQs was established in 2019, by Jarosław Kaczmarczyk and Tomasz Bruliński. The startup realizes the project titled “Development of mobile self-checkout” with the aim to develop and implement a mobile self-checkout in retail stores to optimize their work.
- The startup’s smart cart is equipped with a weighing system, barcode reader, and touchscreen. Customers place items in their cart, scanning them with the built-in scanner, and upon completing their shopping, leave the store as the due amount is automatically charged to their account.
- ZeroQs claims that its solution aims to reduce shopping queues and enhance consumer shopping experiences, and is already being used by Społem and Centrum Retail. In addition, the team added that it can be implemented anywhere in the world where there are self-service stores.
The past year has been extremely intensive for us. After a period of research and development and cooperation with partners such as EY and Microsoft, we moved to the commercialization phase. The introduction of our ZeroQS smart carts to the first stores was a significant milestone. Our priority for the coming year is to consistently continue the commercialization of our solution. We plan full-scale implementations in retail chains both in Poland and abroad,Jarosław Kaczmarczyk, ZeroQs’ CEO comented.
The fresh round was provided by Poland’s Freya Capital, an agnostic venture capital fund investing up to 1 million in early-stage companies. The costs will be used to continue the development of smart shopping cart technology, strengthen its position in the domestic market, and for international expansion.
Earlier, the startup secured a pre-seed round of €250,000 from ValueTechSeed, as well as an additional funding round of €1 million from Freya Ventures.