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KwikKart

Seamless checkout that uses AI + Consumer Data to provide in-store promotions

Highlights

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πŸ’° Accepted into eTrack!! Fully-funded (1 year) engineering and incubation program
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πŸŽ“ CEO is UC Berkeley - Haas grad and former Head of BD for a 1.5MM ARR startup
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πŸ‘¨β€πŸ’» CTO is UC Berkeley - EECS grad with 10+ years of software experience
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πŸ’₯ Disrupt a $28B industry (CPG marketing) with targeted in-store ads (98% margins)
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πŸš€ Tap into $255B (independent grocers) by collecting 1% of targeted promo transactions
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πŸ‘· US Grocery Labor > $70B - Disrupt industry with easy-to-adopt solution (current labor crisis)
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πŸ’Έ B2B - 3 revenue streams: SaaS (store), transaction % (shopper), ad prioritization/analytics (CPG)
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πŸ“ˆ Investment = 30 KwikKarts + COO (retail exec) ➑ 2022 Pilot ➑ 2nd raise ➑ Launch ➑ Series A

Our Team

I have wanted to be an entrepreneur my entire life, and now that I am living it, I can honestly say I have never been happier. I am deeply obsessed with building this company. I will give this idea everything I have, and if it fails, I will get right back up and try again. For the first time in my life it feels like I know what I was born to do.

Pitch

βœ”οΈ Seamless checkout solution that provides personalized in-store promotions

🀝 Former Berkeley roommates who have dreamed of launching a startup together

πŸ’Ž KwikKart uses AI, consumer data, and in-store location to generate personalized promotions (in-app) as consumers shop πŸ›’

      πŸ’₯ Supermarket industry ($759B) is primed for disruption

      • Profit margins < 1%
      • Labor cost = ~10.2% of revenue
      • Inefficient marketing methods - Low ROI, no data insights, costly
      • e-commerce and autonomous shopping threaten to eliminate many grocers

      KwikKart improves the grocery shopping experience for consumers

      • Shoppers save time as they are able to skip the checkout line and easily find items with our in-store navigation
      • Provides shoppers a personalized experience that features item-recommendations, a budgeting tool, and nutritional guidance
      • Shoppers save money as KwikKart provides them with personalized promotions while they shop

      KwikKart platform seamlessly integrates with POS and IMS software to automatically upload price changes and promotional data onto the app

      • Optimize ROI by providing targeted promotions based on consumer profile
      • Stores spend 1.25% of revenue on marketing/advertising ($9.49B total)
      • Average store (1 location) spends $224K per year on flyers, coupons, and catalogs

      KwikKart offers a low-risk and easy-to-adopt solution that solves grocers largest problems

      • KwikKart earns SaaS revenue by charging stores per cart. This means our cost only ramps up once stores are able to decrease their labor cost (offsetting our cost)
      • KwikKart integrates with POS software to provide an automated advertising process. This saves stores time and money while optimizing ad spend and increasing margins
      • Stores maintain peace of mind as they can access our platform through a web-based portal and adjust promotions, track usage, and view data analytics.

      KwikKart retrofits existing carts with our smart-cart insert

      • Accurately weighs all the items placed in the cart to prevent theft (self-checkout method)
      • Shoppers tap their phone on the dashboard to connect their account (app) to that cart 
      • KwikKart inserts are estimated to cost < $700 per cart (at scale). Current smart cart competitors (Caper, Veeve) cost between $5,000 - $10,000 per cart.  

      Our solution is a perfect fit for independent grocers ($254B - 21,547 stores)

      • Independents have even higher labor costs (~14% of revenue)
      • Have even lower margins (>1%) than the industry average, and need to differentiate themselves in order to compete with larger players (open to innovative technology)
      • They are very price sensitive (can't afford large investments). KwikKart is perfect for them, as our costs only increase (per cart SaaS) as their labor decreases.
      • As per our 2nd revenue stream, we take a small percentage (2%) of all item-recommendation and promotion transactions (done seamlessly at checkout). This way, we only charge them for marketing on successful advertising (optimizing ROI), and we only earn more money as their total sales increase (mutually beneficial relationship).


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