Company Overview
Snapshot
Founded in March 2013 by Ofer Klein, Kwik operates with 1–10 employees. The company has raised $3 million across one funding round from 6 investors. In June 2016, Kwik secured $3 million in funding to advance its IoT solution.
Business overview
Kwik provides an IoT solution for automatic product reordering, leveraging sensors and advanced machine learning algorithms to detect usage and calculate inventory levels for consumables. This technology shifts the paradigm from user-initiated ordering to usage-based replenishment, ensuring consumers do not run out of products. The company serves brands and retailers, offering benefits such as reduced supply chain costs, increased customer loyalty, and real-time statistical data on user habits. Kwik operates in the Business Software sector, focusing on IoT, smart home, and e-commerce solutions.
Strategic signal
In June 2016, Kwik raised $3 million to compete with Amazon Dash buttons, signaling investor confidence in its IoT-driven automatic reordering technology. This funding positioned Kwik to further develop its usage-based replenishment system, highlighting a strategic move to capture market share in the smart home and e-commerce sectors by offering a differentiated approach to consumer convenience and brand loyalty.
Log in to access full profile ›Company Intelligence Q&A
- What is Kwik's primary offering?
- Kwik offers an IoT solution that enables automatic ordering based on actual product usage, utilizing sensors and machine learning to manage inventory for consumables like coffee pods and detergents.
- When was Kwik founded?
- Kwik was founded in March 2013.
- How much funding has Kwik raised?
- In June 2016, Kwik raised $3 million in a single funding round from 6 investors, including Relay Ventures.
- Which investors participated in Kwik's funding round?
- In June 2016, Kwik secured funding from investors including Relay Ventures.
- What is the status of Kwik?
- Kwik is currently Non Active as of October 2020.