CTech: Drill Acquired $1.25M to Track Customers’ Emotions

(Image Source: RPC)

Drill, an israeli neuromarketing startup, has recently secured $1.25 million in seed funding. The round featured angel investors including Eyal Ravid, CEO of supermarket chain Victory and Mobileye co-founder Amnon Shashua. The company has developed a tool that allows retailers to monitor real-time responses from customers while they are shopping. 

Based on estimations, Drill has a valuation of $7.7 million and has an annual revenue of $150,000 million. Despite some losses over the year, the firm expects to record a 47% operational profit in 2022 after using the funds to expand personnel and set up more offices across the US.

So how does the tech work? Using cameras located throughout physical stores, Drill gathers data on shoppers by observing their behavior, reactions and emotions. The information is then sold to suppliers who will assist brands in strategizing which products or aisle locations are optimal.

This groundbreaking technology will prove valuable to retailers as “it can exactly pinpoint what customers want.” According to CEO & Co-founder Lanor Daniel, retail has long been managed by big corporations in the market. “A system in which the customer is at the center should cancel out the monopolies of the manufacturers and importers,” added Daniel.

Source: Neuromarketing research startup raises $1.25 million Seed round to track consumer emotions

For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.