Xpand, a retail tech startup developing AI-based autonomous stores, has raised $6 million in a funding round led by Ibex Investors and Emerge, with participation from its leadership team. The funds will enable Xpand to launch its first smart store in Vienna and support its global expansion.
Xpand creates modular, unmanned “store-in-a-box” units that utilize robotics and AI to operate 24/7, enabling retailers to scale quickly and offer a seamless shopping experience. Founded in 2021 as 1MRobotics and recently rebranded, Xpand plans to accelerate store openings in Europe and North America, while also expanding its teams.
The company’s leadership includes experienced professionals from Trax Retail, SAP, Retalix, Bringg, and Magic Leap.
KEY QUOTES:
“With this new investment, we are ready to move from vision to global execution. The Vienna store is only the beginning. Our leadership team is deeply committed to bringing scalable, autonomous retail to life.”
“Our mission is to power the next generation of retail – autonomous, scalable, and always on. We are excited to partner with global retailers to bring this model to life.”
Joel Bar-El, CEO of Xpand
