Instacart Acquires AI-Powered Checkout Company for $350M

Instacart has acquired smart technology checkout system Caper AI for $350 million.

This acquisition adds to Instacart's platform, including the Instacart marketplace, services that power many grocers' e-commerce solutions, fulfillment technology to support delivery and pickup and  last-mile delivery. 

Caper uses an AI-powered smart cart that allows customers to place items such as fruits and vegetables in their carts without having to weigh them. The carts also allow users to check out right at the cart, which are touch-screen enabled. 

Instacart plans to integrate Caper's technology into its app as well as its retail partners' e-commerce websites and applications over time. allowing users to create online shopping lists and explore recipes ahead of time. This integration includes Instacart’s shoppers who buy on behalf of customers. 

Caper's smart carts are presently in use at a number of major North American shops, including Instacart partners Kroger, Wakefern, as well as Canada’s Sobeys and convenience store smart checkout counters. Caper's smart carts were the first in the United States to be approved by the National Type Evaluation Program (NTEP), which verifies the accuracy of items priced by weight and measures, such as vegetables and bulk items.

"We share Instacart's vision of enabling grocery retailers with new innovations that create step changes for their businesses, and we're proud to now be joining forces with Instacart to develop even more solutions that help bring the online and offline together for retailers,” said Lindon Gao, co-founder, and CEO of Caper AI.