Israel’s Retail Tech Ecosystem Boasts Over 250 Companies

January 29, 2018 | Over 250 companies and startups are currently operating in Israel’s retail technologies industry, according to a new study released jointly by Israeli early-stage tech incubator Nielsen Innovate Fund (NIF), financial services company Deloitte, Israeli venture capital firm Jerusalem Venture Partners (JVP), and Israeli retail innovation platform The Shelf. Most are active in logistics, robotics, shipment optimization powered by software, and sales, and include technologies such as e-commerce capabilities, smart buying, payments, digital signatures, inventory control, and new user experience featuring AR/VR and 3D. Together, they have raised over $1 billion in recent years, according to the report. Prominent deals have included marketing platform Yotpo raising $51 million last November, Trax raising $64 million in June, Retalix being bought by omni-channel solutions company NCR Corporation for $650 million, online engagement ring seller R2Net being acquired by Signet’s Jewelers for $325 million, and QR code tech developer Visualead bought by e-commerce giant Alibaba for an undisclosed amount. “Israel is quickly becoming a leading innovation base in the retail world,” says Ilan Leiferman, managing director of The Shelf. “Managers from Walmart Tesco, Carrefour, H&M, Best Buy and others have visited Israel in the past two years and are collaborating with Israeli start-ups, and we expect this trend to continue and retailers worldwide will establish innovative activities in Israel in the form of partnerships, investments or acquisitions. The way to open R&D centers, as well as strategic acquisitions.”