Trigo, a Tel Aviv, Israel-based provider of checkout technology, raised $60m in Series B funding.
The round, which brings total funding to $94m, was led by 83North with participation from existing investors Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments.
The company intends to use the funds to expand operations, boost R&D, and grow its global presence.
Led by Michael Gabay, co-founder and CEO, Trigo uses AI-powered computer vision technologies together with off-the-shelf hardware to retrofit existing stores. The company applies its proprietary algorithms to ceiling-mounted cameras which automatically learn and upload data on shoppers’ movements and product choices, enabling customers to walk into a store, pick up their desired items, and walk out without stopping at the checkout. Payments and receipts are settled digitally.
Senior Editor The new funds will be used to scale Trigo s ability to meet growing demand for self-checkout technology in the food retail space.
Self-checkout in food retail promises to keep growing in 2021, as Trigo, a Tel Aviv-based company that provides the technology for such shopping experiences, has raised $60 million to scale its frictionless checkout grocery platform.
This Series B funding round led by 83North brings Trigo’s total funding to $94 million and provides more evidence for the growth of self-checkout technology among food retailers across the world.
The new funds will be used to scale the company’s ability to meet growing demand, boost R&D and expand its global presence. Existing investors joined the new round, including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco and Morrag Investments.
Trigo Raises $60M to Scale Its Frictionless Checkout Grocery Platform TEL AVIV, Israel (Business Wire) Trigo, a global leader in frictionless checkout technology, has raised a $60 million Series B funding round led by 83North. The latest round brings Trigo’s total funding to $94 million. The new funds will be used to scale the company’s ability to meet growing demand, boost R&D, and expand its global presence. Existing investors joined the new round, including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments.
Trigo uses AI-powered computer vision technologies together with off-the-shelf hardware to retrofit existing stores. The company applies its proprietary algorithms to ceiling-mounted cameras which automatically learn and upload data on shoppers movements and product choices, enabling customers to simply walk into a store, pick up their desired items, and walk out without stopping at the checkout. Payments and receipts are se
Trigo Raises $60M to Scale Its Frictionless Checkout Grocery Platform
Trigo s round comes as mainland European grocery retailers seek edge against Amazon
Trigo, a global leader in frictionless checkout technology, has raised a $60 million Series B funding round led by 83North. The latest round brings Trigo s total funding to $94 million. The new funds will be used to scale the company s ability to meet growing demand, boost R&D, and expand its global presence. Existing investors joined the new round, including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments.
Trigo uses AI-powered computer vision technologies together with off-the-shelf hardware to retrofit existing stores. The company applies its proprietary algorithms to ceiling-mounted cameras which automatically learn and upload data on shoppers movements and product choices, enabling customers to simply walk into a store, pick up their desired items, and walk out without stoppi
Tel Aviv-based shopping automation startup Trigo Vision Ltd. announced on Monday that it has completed a $60 million series B financing round. The round was led by 83North with participation from previous backers including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments. The latest round brings the total funding of Trigo, which was founded in 2018 by brothers Michael and Daniel Gabay, to $94 million.
“We currently employ 85 people and will grow to 140 or more by the end of 2021. Most of our recruits will be operating out of our research and development center in Israel, resulting in us being able to deploy our software in hundreds of stores,” Michael Gabay, who serves as the company’s CEO told Calcalist.