Instacart calls it quits on technology it hailed as 'the future of grocery shopping'

Former Instacart CEO Fidji Simo (left) said that Caper smart shopping carts would be "the future of grocery shopping." Bloomberg/Getty Images

Instacart is carting away a technology it once said would play a key role in shopping.

The grocery delivery company will wind down the team that develops its Caper smart shopping carts , it said on Monday. The move, approved by Instacart's board of directors, will be completed by the second quarter of 2027.

A wind-down will cost the company between $55 million and $80 million, including the costs of terminating some employees and contracts, it said in a filing with the SEC. Instacart will reinvest savings from the decision into "strategic growth initiatives."

Caper carts were one of the most visible of Instacart's retail technology efforts.…