Israeli smart checkout co Trigo raises $60m
The company applies its algorithms to ceiling-mounted cameras, which upload data on shoppers movements and product choices.
Israeli frictionless checkout technology company Trigo has completed a $60 million Series B financing round led by 83North and with the participation of existing investors Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments. The latest round brings Trigo’s total funding to $94 million. The new funds will be used to meet growing demand for Trigo s product, boost R&D, and expand its global presence..
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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 wa
By Steve Farrell2020-12-21T13:00:00+00:00
Source: Trigo
Trigo uses AI-powered computer vision and ceiling-mounted cameras to allow customers to pick up what they want and walk out of stores without visiting a checkout
Tesco-backed frictionless checkout firm Trigo has raised $60m in a series B funding round, bringing total investment in the Israeli business to $94m.
The latest funding, led by venture capital firm 83North, would be used to scale Trigo’s ability to meet growing demand and boost R&D, the checkout-free tech company said.
Existing investors joined the round, including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners and Morrag Investments, as well as Tesco.
By Reuters Staff
2 Min Read
JERUSALEM (Reuters) - Israel’s Trigo said on Monday it raised $60 million in a private funding round to help it meet demand for its technology that allows customers to shop without having to wait in line at a store’s checkout.
Trigo said businesses can install its computer-vision platform, including ceiling-mounted cameras that track customer movement and product choices, to make shopping “frictionless”. Payments and receipts are handled digitally.
Venture capital firm 83North led the funding round, which included previous investors like Tesco, Vertex Ventures Israel and Hetz Ventures. The company has now raised a total of $94 million.