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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 (NASDAQ:AZ) announced the commencement of additional deliveries of its Cust2Mate Smart Carts to Yochananof, a leading Israeli supermarket chain. This follows a previous order for 1,000 carts valued at approximately $10 million. The Smart Carts enhance the shopping experience by allowing in-cart payments, helping reduce checkout times and inventory management. CEO Rafael Yam emphasized that Yochananof’s commitment underscores the cart's reliability and performance in real-world environments, anticipating further deliveries throughout 2022.
A2Z Smart Technologies Corp. (NASDAQ: AZ) has announced the showcasing of its Cust2Mate Smart Cart at the Accenture Custom Innovation Network in Milan, Italy. This strategic partnership with Accenture positions A2Z to enhance visibility in the Italian market, an entry point to broader European opportunities. The smart cart enhances shopping experiences by allowing contactless payments and providing valuable data for retailers. CEO Rafael Yam emphasized the importance of this visibility in strengthening their market foothold.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced a manufacturing credit line with Flex Ltd. for producing its third-generation Cust2Mate Smart Carts. Flex will manufacture 20,000 units on net+30 payment terms, allowing A2Z to scale production without leveraging its capital resources. CEO BenTsur Joseph highlighted the demand for smart carts as retailers seek convenient shopping solutions. This partnership aims to enhance manufacturing capabilities and improve delivery times for customers worldwide.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced an expansion of its credit line with manufacturing partner Acromatis, allowing for the production of an additional 5,000 Generation 2.5 and 2.8 Smart Carts. The total credit line reaches US$17 million, enhancing manufacturing capacity without affecting working capital. Cust2Mate will pay 20% of manufacturing costs upfront, typically covered by initial retailer payments. CEO Rafael Yam expressed optimism about meeting growing retail demand for frictionless shopping solutions.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has formed a partnership with STCR Business Systems to market its Cust2Mate Smart Carts in the USA and Caribbean. The Smart Carts enhance the shopping experience by allowing contactless payments and providing promotional guidance to shoppers. Currently utilized at 32 retail sites, these carts have reportedly increased sales per basket by 30%. STCR, with over 55 years in the retail technology sector, will support the rollout and integration of these innovative solutions for retailers.
A2Z Smart Technologies Corp. (NASDAQ:AZ) announced a partnership with Accenture Italy to enhance the market presence of its Cust2Mate Smart Cart Platform in Europe. This collaboration aims to promote the platform in Italy, showcasing it at the Accenture Innovation Center in Milan. The agreement includes promoting Cust2Mate products, overseeing integration into new locations, and providing maintenance and support. CEO Bentsur Joseph highlights this partnership as key for expanding the company’s footprint in the European retail market.
A2Z Smart Technologies Corp. (NASDAQ:AZ) reported a 180% increase in Q1 2022 revenues, reaching $1.4 million compared to $516 thousand in Q1 2021. Total assets increased to $15.6 million from $14.1 million in Q4 2021, while shareholders' equity remained at $10.9 million. The company projects revenues of approximately $15 million by year-end, driven by its smart cart business and four new pilots initiated across three countries. The successful acquisition of Isramat and heightened demand for its products support these forecasts.
A2Z Smart Technologies Corp. (NASDAQ:AZ) has announced a pilot program for its Cust2Mate Smart Carts with NTUC FairPrice, Singapore's largest supermarket chain. The carts, designed to enhance the shopping experience by eliminating checkout lines and managing inventory, will be available to consumers starting September 1, 2022. This initiative marks A2Z's entry into the Asian market, leveraging FairPrice's extensive network of over 230 locations. The Cust2Mate technology allows for in-cart payments and recognizes purchased items, targeting a more efficient shopping experience.
A2Z Smart Technologies Corp. (NASDAQ AZ) announced a follow-on order from Yochananof, an Israeli supermarket chain, for 1,000 Cust2Mate Smart Carts. This brings the total order value to approximately USD $10 million, with a USD $1.75 million down payment received. Delivery will be completed by October 31, 2022. The Cust2Mate Smart Cart enhances the shopping experience by enabling in-cart payments and promoting discounts, thereby streamlining retail operations. CEO Rafi Yam expressed enthusiasm regarding the positive customer feedback and the potential for wider retail adoption.
A2Z Smart Technologies Corp. (Nasdaq:AZ) announced that CEO Joseph Bentsur and Cust2Mate CEO Rafael Yam will ring the Nasdaq Opening Bell on May 2, 2022, to celebrate A2Z's recent listing on the exchange. The event will be live-streamed at 9:15 a.m. ET. A2Z's common stock began trading on Nasdaq on January 5, 2022, under the symbol 'AZ'. The company specializes in automation technologies, showcasing its innovative Cust2Mate Smart Cart Platform, which enhances the retail shopping experience.
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