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A2Z Smart Technologies Corp. (NASDAQ: AZ) is a multifaceted technology company headquartered in Vancouver, Canada, with a strong presence in the fields of advanced engineering and retail automation. The company operates through three primary segments: Advanced Engineering, Smart Carts, and Precision Metal Parts.
Under its Advanced Engineering division, A2Z provides sophisticated engineering solutions and maintenance services to the military and security markets in Israel. The company also develops innovative products for civilian use, such as the Fuel Tank Intelligent Containment System, designed to prevent gas tank explosions.
The star of A2Z’s product lineup is the Cust2Mate Smart Cart, the world’s first proven-in-use mobile self-checkout shopping cart. This smart cart is equipped with advanced technology including a user-friendly smart algorithm, touch screen, and theft mitigation features. The Cust2Mate allows shoppers to scan and pay for items directly within the cart, thus avoiding long checkout lines and simplifying the shopping experience. The latest iteration, Cust2Mate 3.0, includes a detachable control panel, improved software, and enhanced security features, marking a significant milestone in retail automation.
A2Z's Precision Metal Parts segment focuses on the manufacturing and sale of high-precision metal parts, maintaining a reputation for quality and reliability in various industrial applications.
Recently, A2Z has been actively deploying its Cust2Mate 3.0 carts across major retail chains such as Yochananof in Israel, Morton Williams in New York, and Monoprix in France. The company is also in discussions with several leading global chains to integrate its smart cart technology, responding to the growing demand for retail innovation.
Financially, A2Z has seen substantial investment to support its growth. The company raised around $5.7 million through a combination of registered direct offerings and private placements. These funds are being allocated towards ongoing product development, fulfillment of backlog orders, and expanding customer onboarding processes.
On the corporate front, A2Z has streamlined its structure with Gadi Graus taking the helm as Chief Executive Officer. The company also expanded its board to include Reeves Ambrecht, reinforcing its strategic goals and global growth ambitions.
However, A2Z recently received notices from Nasdaq regarding non-compliance with minimum bid price and market value requirements. The company is addressing these issues within the stipulated grace period while continuing its normal business operations.
With continuous innovation and strategic expansions, A2Z Smart Technologies Corp. is well-positioned to lead the transformation of the retail shopping experience, offering significant value to both retailers and consumers alike.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced the expansion of its Cust2Mate Smart Carts pilot program to Evergreen Kosher Market's Pomona, New Jersey location. Following a successful pilot at the Monsey store, the new implementation allows customers to have a seamless shopping experience with in-cart payments, helping reduce wait times and promoting store discounts. The Cust2Mate technology aims to enhance retail operations by streamlining inventory management and consumer experience.
A2Z Smart Technologies Corp. has announced NMO certification for its Cust2Mate Smart Cart's Legal For Trade (LFT) weighing system, enabling worldwide weight measurements and currency conversions. CEO Rafael Yam stated this certification enhances their competitive edge as they expand into international markets. Furthermore, Gadi Levin has been reappointed as CFO, effective March 15, 2022, following Amir Benkel's departure without disagreements. This strategic move aims to bolster the company's leadership as it enhances its innovative retail solutions.
A2Z Smart Technologies Corp. (Nasdaq:AZ) reported positive results from its Cust2Mate Smart Cart deployment at Yochananof supermarket in Israel. Over 30 days, the Smart Carts sold an average of 36.2 items per basket, outperforming traditional lanes (31.3) and self-checkout (27.4) by 15.7% and 32.1%, respectively. Average spending per basket was NIS 378.4 ($117.15), a 19.6% increase over traditional and 33.9% over self-checkout. Customer feedback was overwhelmingly positive, indicating strong potential for revenue growth for retailers utilizing this technology.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has partnered with Cardknox to integrate its payment platform with the Cust2Mate smart shopping cart. This collaboration allows grocers to accept diverse payment methods, including eWIC, credit and debit cards, and mobile wallets, enhancing the in-cart payment process. The Cust2Mate smart cart improves shopping efficiency by allowing customers to make in-cart payments, avoiding long checkout lines. Cardknox's secure payment processing capabilities will greatly benefit Cust2Mate users by offering flexible payment solutions.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has launched its Cust2Mate Smart Carts at Evergreen Kosher Market in Monsey, New York, following integration and quality assurance. This innovative solution enhances shopping by recognizing purchased items, enabling in-cart payments, and allowing retailers to manage promotions effectively. CEO Rafi Yam highlighted the cart's ability to provide a 'frictionless' shopping experience, reducing wait times for customers. This pilot program marks a significant step in bringing smart cart technology to U.S. consumers.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has launched a pilot program for its Cust2Mate smart carts with Chedraui, Mexico's third-largest retailer, which operates over 250 stores. The initial carts have been deployed at Chedraui's flagship location in Mexico City. The Cust2Mate system enhances the shopping experience by allowing in-cart payments and providing access to discounts, ultimately facilitating a quicker checkout process. A successful pilot could lead to further rollouts across Chedraui's locations, enhancing A2Z's market presence.
A2Z Smart Technologies Corp. (Nasdaq: AZ) has initiated a pilot program for its Cust2Mate smart carts with Chedraui, Mexico's third-largest retailer with over 250 stores. The first carts have arrived at Chedraui's flagship store in Mexico City. This innovative technology enhances the shopping experience by facilitating in-cart payments and promoting discounts. A2Z aims to expand its partnership, contingent on the pilot's success.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has successfully completed its acquisition of Isramat Ltd, fulfilling all closing conditions announced on January 17, 2022. This strategic acquisition will enhance A2Z's manufacturing capabilities for its Cust2Mate smart cart, supporting the expected global growth in demand. CEO Joseph Bentsur stated that collaboration with Isramat aims to optimize production costs, improve margins, and enhance supply chain efficiencies, marking a significant step in scaling operations to meet consumer needs.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced its acquisition of Isramat Ltd, a precision metal parts manufacturer, for NIS 9.3 million (approximately US$2.989 million). This strategic move aims to vertically integrate manufacturing for A2Z's Cust2Mate smart cart, enhancing production capabilities and reducing costs. Isramat generated revenues of NIS 17.312 million (~US$5.56 million) in 2020. The transaction involves cash and equity consideration. The acquisition is expected to improve margins, streamline supply chains, and support global growth, pending regulatory approvals.
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