Automated Checkout System Maker Trigo Raises $22 Million

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Trigo

While shopping checking out process is one of the most tiring process and that's what has made stores go cashier-less with the help of technology. Leading the charge is Amazon with its cashier-less stores called Amazon Go.However, Israel-based startup Trigo, a computer-vision-powered platform is working out to reduce the pain further. It is building check-out-free grocery purchasing systems aimed at large supermarkets.

The company is announcing that it has bagged $22 million Series A financing led by Red Dot Capital along with participation from existing backers, Vertex Ventures Israel, and Hetz Ventures.  Prior to this round, Trigo had raised $7 million as seed capital in July last year. The current infusion takes the total amount raised by the firm to $29 million.

Founded in 2017 by Daniel Gabay and Michael Gabay, the firm has already partnered with a number of grocery chains including Shufersal, the largest grocer in Israel. Michael Gabay, co-founder, and CEO of Trigo, talking about the firm said, "There is very strong demand globally among grocery retailers to dramatically improve customer experience. The common denominator is that everyone is searching for technology to enable the most seamless in-and-out shopping experience. These new funds will be used to scale our technology further and support our global expansion."

Red Dot Capital's managing partner Barak Salomon commenting on the infusion said, "We believe that Trigo's world-leading computer-vision team will be the first to scale this technology globally and unlock the full potential of a true grocery-wide revolution. The process of manually scanning barcodes for each separate item at checkout is outdated and time-consuming. Trigo's technology is going to save brick and mortar, revitalizing the in-store experience while keeping the best part of shopping alive."

It will be interesting to see if the technology can help the grocer and other supermarkets offer resistance to Amazon Go.

 

Image Courtesy : TimesOfIsrael

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