Retail giant Walmart recently announced it acquired Israel-based Aspectiva for an undisclosed amount. Aspectiva is going to be joining Walmart’s Store N° 8 incubation arm.
Aspectiva’s team joined Store N° 8 on February 25, 2019, and will continue to operate from their offices in Tel Aviv. Walmart is expecting Aspectiva’s Natural Language Processing capabilities to further enhance the end-to-end shopping experience.
“Our team is extremely excited to be joining Store N° 8 and be part of Walmart’s most recent investment in Israel. Store N° 8’s record of innovation and of developing capabilities that will transform retail as we know it makes for the perfect environment to leverage Aspectiva’s technology throughout the shopping funnel” said Aspectiva CEO Ezra Daya in a statement.
Aspectiva’s artificial intelligence solutions surface what people say about any product in any category so that shoppers can make informed decisions and buy with confidence.
Launched in 2013, Aspectiva raised over $8 million in funding from investors like Jerusalem Venture Partners, Union Five, Global Brain, and Reinvent VC. Walmart is also an investor in Israel-based tech incubator Team8.
“Aspectiva has developed incredibly sophisticated machine learning techniques and natural language processing capabilities, both of which are areas we believe will have profound impact on how customers will shop in the future. Israel is a hotbed of tech talent and innovation. We’re thrilled to join the growing community of entrepreneurs in Israel and see it expand within Aspectiva,” added Principal of Store N° 8 Lori Flees.
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