Paris-based Lucky Cart is a martech platform that uses AI and machine learning to improve ROI for retailers and suppliers. The startup has just raised €3.6 million in a round led by Partech, with participation from Edenred Capital Partners, Pléiade Venture, Fa Dièse and Calao Finance.
Founded in 2011, Lucky Cart’s AI-based SaaS platform enables retailers and suppliers to optimise the performance of their promotional investments by personalising the promotions sent to their customers.
The analysis of transactional data coupled with artificial intelligence and econometrics enables Lucky Cart to personalise all the elements which make up a promotion: the promotional mechanic (instant discount, redemption code, or randomised discount), the eligibility threshold and the validity period of the offer.
Lucky Cart currently operates in France, Germany, Austria, The Netherlands, Belgium and the United Kingdom, with more than 150 clients including Intermarché, Casino, Carrefour, Unilever, Procter & Gamble, Pepsico, Henkel, and Nestlé.
This funding will enable the startup based in Paris to invest in R&D and to deploy its solution to key actors in the grocery sector in France.
Romain Charles, CEO of Lucky Cart, said: “Every year, retailers and suppliers in France dedicate more than €10 billion to promotion but do not have the necessary tools to improve the performance of their investments, nor to measure the results. The outcome? 61% of promotions are a loss.
“Our approach enables our clients to obtain a return on investment of 4 or 53 whilst offering their customers a personalised buying experience, making them feel valued and understood. This in turn improves their loyalty.”
Romain Lavault, General Partner at Partech, said: “We are very happy to support Lucky Cart in this next development phase, alongside the arrival of the talented Romain Charles from L’Oréal, who knows the notorious inefficiency of traditional promotions in the grocery sector. Lucky Cart’s ultra-personalised promotions solution benefits from a favourable regulatory framework in Europe and a lack of American competition, which is remarkable in the tech industry nowadays.”