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SHEKEL BRAINWEIGH LTD - Corporate Spotlight

Shekel Brainweigh is a leading tech company at the forefront of developing advanced... Shekel Brainweigh is a leading tech company at the forefront of developing advanced weighing systems for the global retail and healthcare markets. Shekel Brainweigh IP includes unique digital weighing technology innovations together with highly advanced Deep Learning and Artificial Intelligence. Combined together, Shekel Brainweigh portfolio companies offer disruptive technology and robust products.More

Corporate Spotlight

Shekel Brainweigh is a leading tech company at the forefront of developing advanced weighing systems for the global retail and healthcare markets. Shekel Brainweigh IP includes unique digital weighing technology innovations together with highly advanced Deep Learning and Artificial Intelligence.
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SBW RECORD BREAKING REVENUE $4.5M IN Q1

SBW INCREASES SALES & REVENUE OVER Q1

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Shekel Brainweigh (ASX:SBW) increases sales and revenue over Q1

Consumer

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Shekel Brainweigh (ASX:SBW) takes a COVID-19 beating


  • Weighing technology company Shekel Brainweigh (SBW) has managed to increase its sales and revenue figures over the first quarter of 2021
  • Shekel's unaudited results show an 18 per cent increase in revenue and a 33 per cent increase in Israeli sales, when compared to Q1 2020
  • Along with these increases, SBW also used the quarter to raise US$7.1 million (around A$9.29 million) via a capital raise and convertible note issue
  • Going forward, the weighing tech business has flagged future growth over 2021 in both the scales and retail divisions

Weighing technology company Shekel Brainweigh (SBW) has managed to increase its sales and revenue figures over the first quarter of 2021.


Shekel's unaudited results show an 18 per cent increase in revenue year on year from just over US$39,000 (roughly A$50,500) to US$129,000 (about A$169,000).


The growth was supported by a 33 per cent increase in Israeli sales and a 20 per cent increase in global sales, when compared to Q1 2020.


SBW CEO and Executive Chairman Arik Schor said he's pleased with the growth in the company's scales and retail divisions.


"The scales division is experiencing a return to revenue growth, and has undergone a major organisational restructuring," he said.


"The retail innovation division is also making progress with major milestones underway, including the launching of the first autonomous store in Paris, and a second project in Israel with a pharmaceutical retailer," he added.


Along with the revenue and sales increases, SBW also used the quarter to raise more US$7.1 million (around A$9.29 million) in capital.

The company raised US$2.1 million (about A$2.75 million) via a placement in January and last month finalised plans to raise an additional US$5 million (roughly A$6.54 million) through the issue of convertible notes.


Once shareholders sign off on the notes, Shekel Brainweigh expects the funds to hit its accounts at the end of the month.


Meanwhile, looking ahead, the weighing tech business has flagged future growth across 2021 as businesses continue to bounce back from COVID-19.


Read the full article on The Market Herald here.

SBW PAVING THE WAY FOR RETAIL REVOLUTION

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Shekel Brainweigh (ASX:SBW): paving the way for Australia’s retail revolution

ASX:SBW    
Shekel Brainweigh (ASX:SBW): paving the way for Australia’s retail revolution
The Capsule. Source: Shekel Brainweigh

  • ASX-listed Shekel Brainweigh (SBW) is tackling a change in the way people shop, evolving its tech for the autonomous store market as shoppers migrate away from "mega" supermarkets
  • The company's tech, a unique digital sensor known as a load cell, can weigh groceries quickly and accurately — it's even said to be more scalable than typical camera-based store tracking
  • This tech has underpinned the Capsule store in Paris, which Shekel created in partnership with French retail giant Groupe Casino
  • Now, Shekel is busy creating a second store in Israel, with plans for future expansion in Europe and Australia as the COVID-19 pandemic subsides
  • With the scalability and robustness of Shekel's tech and the imminent retail trends in the Australian market, the company is poised to reap major rewards in the coming months and years

The past few years have brought about a fundamental shift in the way people shop that has only been exacerbated by the ongoing COVID-19 pandemic. 


However, while the spotlight seems to have fallen on the recent growth in online shopping, the reality is that brick-and-mortar stores are facing their own transformation in what consumers want and how they want to get it. 


Even before the coronavirus pandemic struck, Amazon launched its chain of Amazon Go convenience stores in the U.S. and the U.K., which were designed to automate the check-out process so customers could avoid lines and temperamental self-checkout machines. This defined a whole new market segment of frictionless retail. 


Further, Amazon Go helped underpin a major micro-trend that saw consumers begin to favour smaller, closer outlets over "mega" supermarkets — a trend particularly evident in the new generation young consumers who favour a fast, digital and urban lifestyle. 

So, when social distancing became crucial and consumers became wary of getting too close to those around them, the demand for a quick and frictionless shopping process grew, too. 


ASX-listed Shekel Brainweigh (SBW) has noticed this transformation in retail trends and already built up its sophisticated tech to tackle the growing autonomous store market. 


Smart stores, smarter

Shekel Brainweigh's technology is based on a unique digital sensor called a load cell, which can weigh products quickly and accurately.


The company has taken the capabilities of load cells further, however, by integrating high-speed electronics, artificial intelligence (AI) and machine learning software on top of the cells. 


It took two years of research, deep statistical analysis, and defining new models to develop the proprietary technology, but Shekel has created what it calls Product Aware Technology: a platform that can artificially divide any surface into a grid and then accurately track any movement across this grid. 


While the possibilities of this type of technology are far and wide, Shekel first took its tech to the lucrative retail segment. 

According to data from market researcher Grand View, the market for retail automation was around US$9 billion (around A$12 billion) in 2016 and expected to grow rapidly over the coming decades.


As such, Shekel installed its Product Aware Technology in a retail 'Smart Bay' and then a 'Smart Fridge'. These devices detect when any product on a shelf is picked up or put back down, and this information is tracked and stored as needed within the shop's wider tech system. 


What's more, Shekel's tech is far more accurate and less data-intensive than camera-based store-tracking tech typically found in Amazon Go stores and other autonomous retail outlets. It also avoids the challenge of dealing with privacy regulation. 


With changing lighting conditions, products blocking other products, dirt on lenses, or small items, camera-based autonomous product detection is not always reliable for product recognition. On top of this, computing so much visual data is expensive and cumbersome. 


Shekel's revolutionary platform solves these issues with its load cell-based and AI-driven technology. It's this tech that has formed the basis for Shekel Brainweigh's Autonomous Store, which is already being tested in Paris. 


Capsule: A new age of retail from Shekel and Groupe Casino

The Shekel Brainweigh team has joined forces with French multi-billion-dollar retail giant Groupe Casino to build an autonomous store known simply as the Capsule. 


This simple 20-square-metre store resembles a shipping container but comes stocked with over 300 grocery products. 

The shopping experience is unlike any typical convenience store; shoppers can enter the store with nothing except a way to pay and exit with all their items without any person-to-person interaction. 


There is no need to download an app or hold a specific company badge, either; simply scanning a credit card upon entry into the store is enough to begin shopping. 


Shekel's Product Aware Technology then tracks a virtual basket for every item a customer takes off the shelf, and all that's left is for the customer to validate their basket when they exit the store, and payments are made automatically. 


The Capsule launched in Paris in October 2020 with retail chain Monoprix, which has already flagged plans to expand to more autonomous stores in Europe once the COVID-19 pandemic situation allows for it. 


Meanwhile, Shekel is busy building a second store in Israel for another local leading retailer to stock mainly pharmaceutical retail products. 


Given the size and simplicity of the stores, this autonomous retail experience is exceptionally scalable — particularly for global central business districts. 


The Capsule is estimated to cost just a fraction of what an Amazon Go store costs to build, and wherever a city can fit a shipping container, it can fit a Shekel store. 


By creating the smart autonomous store, Shekel is addressing two growing retail needs in one; the demand for smaller, more localised stores, and the ability to completely social distance while shopping. 


"Autonomous shopping and checkout experiences are the way of the future," Shekel Brainweigh Australia Manager Danny Nadri said. 

"We have experienced similar interest in Australia for autonomous shopping, and we look forward to introducing similar product trials in the future."


Shekel in Australia

Australia typically lags behind other developed nations when it comes to changes in retail micro trends — hence Shekel's call to launch its first Capsule call in France. 


But just because Australia is slower does not mean things don't happen at all; on the contrary, if a global retail trend explodes overseas, it's a strong indicator the same thing is imminent in Australia. 


In fact, Shekel is already undergoing a trial with a major retailer in Australia for its Smart Bay tech, which serves as the basic building block for a full autonomous store. 


Moreover, the company is already looking to trial products like the Capsule in Australia to get ahead of the autonomous retail market. 


With the scalability and robustness of Shekel's tech, the success it has already seen overseas and the imminent retail trends in the Australian market, the company is poised to reap major rewards in the coming months and years. 


Shekel Brainweigh shares currently trade for 13 cents each in a manageable $20 million market cap. It's up to investors, then, to ensure they join the retail revolution before they miss their chance.


Read the full article on The Market Herald here.

SBW ENDS FY20 WITH $7M GROSS PROFIT

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Shekel Brainweigh (ASX:SBW) ends FY20 with $7M gross profit

Technology

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  • Shekel Brainweigh (SBW) has released its full-year financial results for 2020, revealing it ended the year with US$7 million (about A$8.9 million) in profit

  • The global weighing technology company also tabled US$18.3 million (around A$23.3 million) in revenue over FY20
  • SBW ended December 31 with a net loss after tax of US$4.4 million (roughly A$5.6 million) and an increase of 33 per cent compared to FY19's loss
  • The business explained the increased loss was due to a drop in gross profits and continued expenditure on research and development projects
  • Shekel ended FY20 with US$1.47 million (approximately A$1.87 million) and has since raised another $2.1 million via a placement

Shekel Brainweigh (SBW) has released its full year financial results for 2020, revealing it made US$7 million (about A$8.9 million) in profit over the year.


The company which creates weighing systems for both the retail and healthcare industries also tabled US$18.3 million (around A$23.3 million) in revenue over FY20.


Both of those figures are slightly down on its 2019 financial results, when it recorded US$8.2 million (approximately A$12.44m million) in gross profit and US$18.8 million (roughly A$23.9 million) in revenue.


Additionally, Shekel ended December 31 with a net loss after tax of US$4.4 million (around A$5.6 million) which is an increase of 33 per cent when compared to FY19's loss.


The global weighing technology company explained the increased loss was due to a drop in gross profits and heightened expenditure on research and development projects


Commenting on the financial results, SBW Chairman and CEO Arik Schor said despite COVID-19 impacting its sales revenue within the health sector, the company had performed well.


"Shekel continued to operate its business profitably, posting a gross profit of US$7 million, as well as launching new products in both divisions and winning new clients in new sectors," he explained.


"Pleasingly, the Retail Innovation division has started to generate revenue. In the second half of FY20, total revenue from the Group resumed to pre-COVID levels of US$10.4 million (roughly A$13.24 million)," he added.


Shekel ended its 2020 financial year with US$1.47 million (approximately A$1.87 million) in the bank. It's since topped up that balance further by raising an additional $2.1 million via a recent placement.


Following the release of Friday's full-year financial report, shares in Shekel Brainweigh are trading at 15 cents per share, down 3.23 per cent at 2:04 pm AEDT.


Read the full article on The Market Herald here.

ABOUT US

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Shekel Brainweigh is a leading tech company at the forefront of developing advanced weighing systems for the global retail and healthcare markets. Shekel Brainweigh IP includes unique digital weighing technology innovations together with highly advanced Deep Learning and Artificial Intelligence algorithms and models. Combined together, Shekel Brainweigh portfolio companies offer disruptive technology and robust products.




Retail Innovation

Capitalising on the global demand for retail store automation to provide enhanced consumer shopping experience and improve retailers’ efficiencies, Shekel Brainweigh Retail Innovation Division has developed its game changing Product Aware Technology, which digitally transforms a retail shelf into a source of enlightening insights. With its ability to identify a product by its weight, using IoT load sensors, embedded Smart Shelf software and Cloud-Based Artificial Intelligence & Deep Learning algorithms, it provides real time data services to its customers enabling store automation - All the Weigh to Autonomous Store.






Shekel Scales

For more than 40 years Shekel Scales has established itself as a pioneer in the design and manufacture of electronic scales, advanced weighing systems, and force measurement applications. Shekel's outstanding combination of core engineering technology and sophisticated software enables the company to offer creative solutions for a wide range of weighing needs. Shekel Scales provides thousands of customers all over the globe with innovative healthcare, retail, industrial and OEM smart weighing solutions. To find out more about our solutions and how we have maintained our long-lasting success.


Read more about Shekel Brainweigh here.

SWB TO RAISE $2.1M FOR AI SMART SHELF

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Shekel Brainweigh (ASX:SWB) to raise $2.1M for AI Smart Shelf

Consumer

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  • Israeli scale manufacturer Shekel Brainweigh (SWB) has secured firm commitments to undertake a $2.1 million placement
  • More than 13.1 million shares will be issued to institutional, professional and sophisticated investors at 16 cents
  • This price represents a 15.8 per cent discount to Shekel Brainweigh's last closing price of 19 cents on January 13
  • The company will primarily use the funds to speed up the development and market strategy of its 'Product Aware Technology'
  • This technology uses artificial intelligence (AI), sensors and deep learning models that can convert any standard shelf to an AI Smart Shelf
  • These smart shelves know what item is taken off and put back on to keep up inventory and demand

Israeli scale manufacturer Shekel Brainweigh (SWB) has secured firm commitments to undertake a $2.1 million placement. 

The company entered a trading halt on January 14 but did not disclose how much it would be raising or what it would use the funds for. 


All up, 13,125,000 shares will be issued to institutional, professional and sophisticated investors at 16 cents. 


This price represents a 15.8 per cent discount to Shekel Brainweigh's last closing price of 19 cents on January 13. 


Additionally, shareholders will receive one free attaching option for every two shares issued under the placement. These options will be exercisable at 32 cents with expiry 12 months from issue. 


Shekel Brainweigh will primarily use the funds to speed up the development and market strategy of its 'Product Aware Technology'.


This technology uses artificial intelligence (AI), sensors and deep learning models that can convert any standard shelf to an AI Smart Shelf. 


These smart shelves know what item is taken off and put back on to keep up inventory and demand. 


"With a strengthened balance sheet, best-in-class technology, global distribution and long-term clients, Shekel is positioned for very rapid growth in demand across multiple growth opportunities," Chairman and CEO Arik Schor said. 


"The global retail market posted for transformation in the aftermath of the COVID-19 crisis, with an accelerating shift towards autonomous shopping, and we are excited to be at the forefront of product innovation in this space," he added. 


Shares are expected to settle on January 22 and be allocated and begin trading on the ASX on January 25. 



Read the full article on The Market Herald here.

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SBW RECORD BREAKING REVENUE $4.5M IN Q1

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