Nexite has developed a batteryless, radio-powered tag and a cloud data platform that reads item movement and associations in physical stores. The tags are small enough to be integrated into clothing labels or attached as stickers and transmit up to roughly 7–10 meters using radio waves from in-store beacons. The system works with existing store gates, can enable contactless “just walk out” flows without cameras, and lets customers opt into an app after purchase to continue interacting with the tag. Nexite says its solution delivers real-time merchandise data that retailers currently lack, and the company positions the product as cheaper and easier to adopt than some alternatives. The startup has two major retailers signed for full rollouts covering more than 1,000 stores and an expected 80 million tags annually, plus agreements in varying phases with four of the largest retailers and discussions with about 20 others. Nexite plans to use new funding for R&D and to deploy services to its early customers, and the company is exploring broader IoT applications of the technology.

Total raised

$67M

Funding rounds

1

Latest round

Series C

Latest activity

May 2022