Xpand, a retail technology startup building autonomous, AI-powered retail stores, announced it has raised $6 million in a funding round led by Ibex Investors and Emerge. The company’s executive team, including Chairman and CEO Joel Bar-El, also participated, signaling strong internal alignment and confidence in the company’s strategic direction.
The new funding will support Xpand’s next phase of growth, beginning with the launch of its first smart autonomous store in Vienna. This milestone marks a major step in the company’s plan to expand access to efficient, frictionless retail infrastructure worldwide.
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“With this new investment, we are ready to move from vision to global execution,” said Joel Bar-El, CEO of Xpand. “The Vienna store is only the beginning. Our leadership team is deeply committed to bringing scalable, autonomous retail to life.”
Xpand develops modular “store-in-a-box” units that integrate robotics, computer vision, and real-time inventory management. These unmanned plug-and-play stores are designed to operate 24/7 without staff, giving retailers a fast, flexible way to grow their footprint and provide a seamless, personalized shopping experience.
Founded in 2021 under the name 1MRobotics, the company was rebranded as Xpand to reflect its shift from research and development to commercial deployment. The new capital will accelerate store rollouts across Europe and North America and fund the expansion of the company’s sales, marketing, and technology teams.
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Xpand is led by a team of seasoned operators and entrepreneurs with deep roots in retail, logistics, and enterprise technology. Bar-El previously co-founded Trax Retail, a global retail AI unicorn. Other senior team members bring experience from leading companies including SAP, Retalix, Bringg, and Magic Leap.
“Our mission is to power the next generation of retail – autonomous, scalable, and always on,” said Bar-El. “We are excited to partner with global retailers to bring this model to life.”
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Source – Businesswire
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