Software News / Freshub

Ikan Announces Merger with Freshub in an All Stocks Deal and the Closing of an $8m Funding Round

Via: ReleaseWire

Updated 12:15 AM CDT, Wed, June 19,2019

The merged entity will use the new funds to continue the development of the company’s advanced solutions for smart kitchen commerce while enforcing their IP rights in that field

Tel Aviv, Israel -- (ReleaseWire) -- 06/19/2019 -- IKAN, the builder of Ikan Grocery Scanner, the world's first voice-enabled grocery list builder, announced merger with Freshub, the leading independent smart kitchen commerce provider, in an all-stocks deal. Freshub is joining IKAN's portfolio of companies and will be called "Freshub, an IKAN company." The merger is backed by an $8M funding agreement to fund the further development of the merged company's smart kitchen commerce solution, while enforcing its IP rights based on representation by Kramer Levin in the United States.

With the growing popularity of voice assistants, smart kitchen appliances and other connected devices and the need for supermarkets to offer innovative and convenient shopping options to their customers, smart kitchen commerce is positioned for major growth in the near future. The merged company is planning to tap in to this trend and expand its activity in the space, looking to partner with the leading players, offering to help build the next generation of solutions while licensing its break through IP.

Bill Adam, CTO at IKAN was quoted as saying "We have been very impressed by what Freshub has achieved so far, building a state of the art smart kitchen commerce solution and partnering with many of the top players in this ecosystem. We believe that by adding Freshub to the IKAN family and integrating the IP assets of both entities, we'll be able to position ourselves as one of the major players in this space."

Iri Zohar, Freshub's founder, noted "We're super excited to join the IKAN family, becoming a part of the team that invented and brought to market the concept of smart kitchen commerce and voice based shopping far before all other players." Zohar added, "Under IKAN we're planning to take our solution and technology to the next level, continuing to offer innovative solutions in this space."

About IKAN
IKAN is the builder of Ikan Grocery Scanner, the world's first voice-enabled grocery list builder. With the Grocery Scanner, IKAN invented and brought to market the concept of smart kitchen commerce and voice based shopping. Long before the idea of voice based shopping was popular, IKAN conceived, developed and patented the idea of simplifying grocery shopping by allowing customers to create shopping lists while being active in their kitchen by simply speaking to their connected device. IKAN has continued to seek out and develop the latest in smart kitchen technology.

About Freshub
Freshub, is a leading business advisor, technology provider and systems integrator in the smart kit hen commerce ecosystem. Freshub brings grocery retailers and appliance manufacturers together to make the smart kitchen a reality, offering consumers full access to online supermarkets via kitchen appliances such as connected microwaves, kitchen music players and smart bins. Consumers can add products to their digital shopping cart by simply waving the package in front of the appliance or using voice commands.


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