A Cary startup that proclaims it has a recipe for boosting supermarkets’ sales has raised $400,000 in seed capital.
Myxx, which was formed late in 2015, is talking to four major grocery chains about testing the company’s concept – and its technology – with a pilot program, said co-founder and CEO Monica Wood. The ultimate goal is to license its software to chains that would market it under their own brands.
David Gardner of Cofounders Capital, the Cary venture capital firm that led Myxx’s first-ever round of funding, called the company’s strategy “the Intel inside model.”
Myxx’s software, which will be available online and through a mobile app, suggests recipes and, when a shopper chooses one, maps out where the ingredients can be found at the store.
“We turn those ingredients into products in the cart that retailers can influence,” such as pointing customers to products that are on special at the store, Wood said.
Alternatively, Myxx’s software will enable shoppers to buy those ingredients online and have them ready for pickup at the store, or have them delivered to their home if the store offers delivery service.
The software also takes into account shoppers’ profiles — such as whether they’re vegetarians or gluten-free — and information gleaned from past purchases in suggesting recipes.
The software developed by Myxx, which has three full-time employees, speaks to consumers’ increasing desire for convenience, Wood said.
“I’m a single mom with three kids and I know about struggle, what it’s like to get a healthy dinner on the table for my children,” Wood said. “As an entrepreneur, I really see that there’s an opening in this space to make it easier using technology.”