Trigo Raises $100 Million to Fuel Expansion of Cashier-Free Checkout Technology
Computer vision company Trigo has raised $100 million in a new equity financing round. The solution provider will use the funding to scale deployment of autonomous urban supermarkets across Europe and the U.S., enter new geographies and develop its store and inventory management software application suite, StoreOS.
Trigo’s solution is designed to help supermarkets create a “digital twin” of the store using feeds from ceiling-mounted cameras and shelf sensors. The technology aims to enable frictionless checkout, real-time inventory tracking and other technologies.
“By opening multiple autonomous stores with five of the world’s leading grocery retailers, we have proven that we can deploy computer vision and AI to empower physical stores with the same kinds of insights and capabilities that ecommerce stores have,” said Michael Gabay, Co-founder and CEO of Trigo in a statement. “This investment allows Trigo to build on this success and focus on three core initiatives: expanding our autonomous retail platform, building increasingly larger stores and executing a pipeline of contracted stores around the world.”
The investment was led by Singapore investment firm Temasek and 83North. New strategic investors include SAP SE, which will also help commercialize Trigo’s solution. Existing investors joining the round included Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola and supermarket giant REWE Group, one of the world’s leading retailers.
Gloss