What is Nexite?
Nexite operates a pioneering connected merchandise platform designed to deliver invaluable, first-of-its-kind real-time in-store sales intelligence aligned with customer behavior for sales optimization. The company leverages world-class engineering expertise, with its platform comprising battery-free, long-range communication technology that provides a continuous stream of data automatically and in real-time. Nexite's technology is engineered to maximize merchandise performance, thereby driving store revenues across all physical retail markets. Furthermore, it enables completely frictionless shopping experiences, including seamless checkout and returns, positioning Nexite as a key player in the evolution of physical retail technology.
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 Vertex Ventures, Battery Ventures, and Pitango Venture Capital
Series B (2020): $22M led by Vertex Ventures, Intel Capital, Battery Ventures, and Pitango Venture Capital
Series C (2022): $67M supported by Battery Ventures, Pitango First, Intel Capital, Pitango Growth, Saban Ventures and Investments, and Vertex Ventures
Key Investors in Nexite
Battery Ventures
Battery Ventures is a venture capital firm that partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT, and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally.
Intel Capital
Intel Capital, a division of Intel, invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter, Cloud, 5G, and next-generation compute. Founded in 1991, it curates thousands of business development introductions each year and is headquartered in Santa Clara, California.
Vertex Ventures
Vertex Ventures US is an early-stage venture capital firm that supports founders creating a smarter digital economy through B2B software. They focus on partnering with and investing in early-stage infrastructure and SaaS companies, leveraging their experience as former founders and operators.
What's next for Nexite?
The substantial enterprise-level funding secured by Nexite signals a critical phase of scaling and market expansion. This significant capital infusion is expected to accelerate the development and deployment of its connected merchandise platform, enhancing its real-time sales intelligence capabilities. Strategic investments of this magnitude typically empower companies to broaden their technological infrastructure, expand their sales and marketing reach, and potentially explore new market verticals. Nexite's focus on frictionless shopping and data-driven sales optimization positions it to capitalize on the ongoing digital transformation within the retail sector, aiming to further solidify its market leadership and drive revenue growth.
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