Mashgin Raises $62.5M in Series B Funding at a $1.5 Billion Valuation
Summary
Mashgin, a Palo Alto, Ca-based touchless self-checkout system powered by AI and computer vision, raised $62.5m in Series B funding at a $1.5 billion post-money valuation. The round, which brings Mashgin’s total funding to date to $74.7m, was led by NEA, with participation from Matrix Partners. Founded in 2013 and led by Chief Technology Officer Mukul Dhankar and CEO Abhinai Srivastava, Mashgin provides a self-checkout system powered by AI and computer vision, which enables consumers to get instant gratification and retailers to get revenue. Mashgin kiosks are currently deployed in more than 800 locations, including convenience stores, iconic sports stadiums, arenas and entertainment venues, airports, universities, corporate and hospital cafeterias. There’s no need to look for and scan bar codes: customers place their items on the company’s tray, and pay electronically.
Funding
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