Xpand, a retail technology startup, has raised $6 million in funding to accelerate the rollout of its autonomous AI-powered stores, beginning with a launch in Vienna.

Target Overview

Xpand is a pioneering retail technology startup based in Tel Aviv, dedicated to creating autonomous, AI-powered stores. Founded in 2021 originally as 1MRobotics, the company underwent a rebranding to Xpand to signify its transition from research and development to active commercial implementation. The executive team is led by Chairman and CEO Joel Bar-El, who co-founded Trax Retail and has assembled a talented roster from top technology firms including SAP, Retalix, Bringg, and Magic Leap.

The recent funding round has successfully secured $6 million, led by Ibex Investors and Emerge, positioning Xpand for rapid expansion. With the aim of accelerating the rollout of their innovative retail solutions across Europe and North America, the investment will also bolster their sales, marketing, and technology teams. Notably, Xpand is preparing to inaugurate its first smart autonomous store in Vienna, underscoring the seriousness of its commitment to revolutionizing retail.

Industry Overview

The retail industry has been dramatically evolving, particularly in Europe, where consumer preferences are increasingly leaning towards technology-driven shopping experiences. The integration of artificial intelligence and automation is reshaping