Walmart has acquired Aspectiva, an Israeli-based startup, for an undisclosed sum. As part of the acquisition, Aspectiva will be joining Walmart’s Store No. 8, the incubation arm launched by the retailer.
Aspectiva’s natural language processing capabilities will help Walmart further enhance the end-to-end shopping experience, the company said. The Aspectiva team will continue to operate from its offices in Tel Aviv.
“Aspectiva has developed incredibly sophisticated machine learning techniques and natural language processing capabilities, both of which are areas we believe will have profound impact on how customers will shop in the future. Israel is a hotbed of tech talent and innovation. We’re thrilled to join the growing community of entrepreneurs in Israel and see it expand within Aspectiva,” said Lori Flees, principal of Store No. 8.
This is the latest activity for Walmart with Israeli-based technology companies. The company has also made a strategic investment in Team8, an Israeli think tank and tech incubator, launched a joint venture with Eko, an interactive media and technology company, and recently joined The Bridge, a technology accelerator connecting global companies with the technology startup community in Israel.