Dive Brief:
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Image-recognition startup Slyce has acquired Tel Aviv-based mobile shopping app Pounce, which scans photos of items and provides inventory and price information and a checkout process, for $5 million.
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Toronto-based Slyce works with several major retailers to give them a capability similar to Amazon’s Flow (Firely on its Fire smartphone), which allows customers to scan items and buy them on Amazon. Slyce also has video and audio recognition, QR and barcode scanning, and Near Field Communications.
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Pounce, which works with Macy’s, Ace Hardware, Target, Toys “R” Us, Babies “R” Us, Staples, Best Buy, Lord & Taylor, and Hudson’s Bay, among other retailers, adds capabilities that Slyce was already working to integrate into its system.
Dive Insight:
While Amazon’s Firefly leads to purchases in its retail site, Slyce brings that ability, where customers scan and buy desired merchandise, to all of its partnering retailers. With Pounce's added inventory and price and checkout capabilities, Slyce is an even more comprehensive way for retailers to combat Amazon’s advantage when it comes to showrooming.