Israel's Trigo raises $100 mln to expand autonomous shopping technology
Summary
JERUSALEM, Oct 26 (Reuters) - Israels Trigo said on Wednesday it raised $100 million in a private funding round to ramp up deployment for its technology that allows customers to shop without having to wait in line at a stores checkout.The round was led by Singapore investment firm Temasek and 83North. They were joined by new strategic investor SAP SE, who will also help commercialize Trigos solution and existing investors Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola, and supermarket giant REWE Group.Trigo said its technology transforms existing supermarkets into fully autonomous digital stores through the use of ceiling-mounted cameras that track customer movement and product choices, to make shopping frictionless. Payments and receipts are handled digitally.It said it would use the new funds to expand further into the United States and Europe, while developing an inventory management application suite.Trigo noted its technology is being used by Tesco PLC (TSCO.L) in Britain, ALDI (ALDIEI.UL) in the Netherlands, Wakefern in the United States and and Netto and REWE (REGRP.UL) in Germany.
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