202226 Oct

Trigo Raises $100M to Scale AI-Powered Frictionless Grocery Retail Platform

Summary

TEL AVIV, Israel--(BUSINESS WIRE)--Trigo, an Israel-based computer vision company building the infrastructure for autonomous retail stores and retail analytics has raised $100 million in a new equity financing round to scale deployment of autonomous urban supermarkets across Europe and the US, enter new geographies, and develop its comprehensive store and inventory management software application suite, StoreOS.The investment was led by Singapore investment firm Temasek and 83North. As a leading provider of enterprise software for the retail industry, SAP is delighted to join as a strategic investor to Trigo to support the development of the StoreOS autonomous supermarket operating system. Smart checkout technology is estimated to process nearly $400 billion of transactions within the next five years, according to Juniper Research.How it works: Trigos computer vision system generates a 3D digital representation of the physical space of the store, using feeds from ceiling-mounted cameras and shelf censors to analyze interactions between shoppers and items. The system does not use facial recognition, does not scan eyes, fingerprints, or any other biometric features, and Trigo does not hold any direct identifiers of shoppers.Why it matters to shoppers: Standing and waiting in line wastes time, it causes stress, it leads to lost productivity, and as weve seen during the pandemic, it can be unsafe. Powered by its proprietary 3D engine, Trigo offers grocery retailers a range of additional solutions through its StoreOS suite, including predictive inventory management, pricing optimization, security and fraud prevention, planogram compliance, and event-driven marketing.

Source: Businesswire

Funding

$100M
Amount
Oct 26 2022
Date
-
Investor
Trigo Vision
Company

Classifications

Companies