What is Nexite?
Nexite operates at the intersection of Internet of Things (IoT) and retail analytics, providing a sophisticated platform that transforms physical merchandise into data-rich assets. By utilizing battery-free, long-range communication technology, the company enables retailers to capture continuous, real-time data streams regarding product movement and customer interaction. This technological infrastructure facilitates frictionless shopping experiences, including automated checkout and streamlined returns, effectively reducing operational overhead while simultaneously increasing revenue per square foot. Nexite's solution is designed to integrate seamlessly into existing retail ecosystems, offering a scalable approach to in-store intelligence that was previously unattainable through traditional manual tracking methods.
How much funding has Nexite raised?
Nexite has raised a total of $100M across 3 funding rounds:
Series A
$11M
Series B
$22M
Series C
$67M
Series A (2018): $11M with participation from Pitango Venture Capital, Battery Ventures, and Vertex Ventures
Series B (2020): $22M led by Pitango Venture Capital, Battery Ventures, Intel Capital, and Vertex Ventures
Series C (2022): $67M supported by Vertex Ventures, Battery Ventures, Pitango First, Intel Capital, Pitango Growth, and Saban Ventures and Investments
Key Investors in Nexite
Pitango Venture Capital
Pitango is a venture capital firm that partners with visionary entrepreneurs and groundbreaking companies, supporting them from stealth mode to maturity across various technology and health sectors.
Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software, enterprise infrastructure, and industrial technology.
Vertex Ventures
Vertex Ventures US is an early-stage venture capital firm that supports founders creating a smarter digital economy through B2B software and infrastructure investments.
What's next for Nexite?
With the successful closure of its latest funding round, Nexite is strategically positioned to scale its operations and expand its footprint across global physical retail markets. The company's roadmap focuses on deepening its engineering capabilities to further refine its proprietary communication protocols and enhance the predictive accuracy of its sales intelligence engine. By prioritizing the deployment of its technology in high-traffic retail environments, Nexite aims to establish its platform as the industry standard for connected merchandise. Future growth initiatives will likely involve strategic partnerships with major retail chains and the continued development of software features that leverage the platform's unique data set to drive personalized consumer engagement and operational efficiency.
See full Nexite company page
