Veeve, founded in 2018 by former Amazon engineers Shariq Siddiqui and Umer Sadiq, builds battery-powered smart shopping carts and a clip-on Plug&Play device to retrofit existing carts. The carts feature a touchscreen for phone-number entry, item adding, on-cart payments, personalized recommendations, coupons, an integrated weighing scale and aisle-awareness. The company highlights hardware advantages — a lighter cart with a basket holding twice as much as competitors, an 18-hour battery and weather-resistant design — and supports Retail Media Network integration. Veeve has piloted with retailers and converted pilots into multiyear contracts, including Albertsons earlier this year. The company doubled revenue year-over-year and forecasts 4x–5x revenue growth next year. Veeve plans to use product development to add computer-vision experiences for product recognition and to address loss prevention, and expects thousands of carts deployed across North America by the end of next year. Veeve is developing a smart shopping-cart platform that brings a cashier-less "just walk out" checkout to large-format grocery stores. Its carts combine onboard sensors, cameras, a built-in scale, a barcode-scanner fallback, and an on-cart screen that lets shoppers scan a QR code, view past purchases, receive recommendations, and see personalized deals tied to loyalty programs. The cart identifies products as they are placed inside, updates receipts in real time, and supports produce weighing and age-verification workflows. Customers swipe a credit card on the cart and simply walk out while payment processes. Veeve positions its solution as a lower-cost, more scalable alternative to ceiling-mounted camera systems like Amazon Go for large grocery footprints. The company has launched the technology with a Seattle-area grocer, is demoing at GroceryShop, and is in talks with another retailer in Dubai. The team is small (five people) and the company recently came out of stealth.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2022