Tel Aviv-based shopping automation startup Trigo Vision Ltd. announced on Monday that it has completed a $60 million series B financing round. The round was led by 83North with participation from previous backers including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments. The latest round brings the total funding of Trigo, which was founded in 2018 by brothers Michael and Daniel Gabay, to $94 million.
“We currently employ 85 people and will grow to 140 or more by the end of 2021. Most of our recruits will be operating out of our research and development center in Israel, resulting in us being able to deploy our software in hundreds of stores,” Michael Gabay, who serves as the company’s CEO told Calcalist.
Israeli smart checkout co Trigo raises $60m
The company applies its algorithms to ceiling-mounted cameras, which upload data on shoppers movements and product choices.
Israeli frictionless checkout technology company Trigo has completed a $60 million Series B financing round led by 83North and with the participation of existing investors Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments. The latest round brings Trigo’s total funding to $94 million. The new funds will be used to meet growing demand for Trigo s product, boost R&D, and expand its global presence..
RELATED ARTICLES
Trigo uses AI-powered computer vision technologies together with off-the-shelf hardware to retrofit existing stores. The company applies its proprietary algorithms to ceiling-mounted cameras which automatically learn and upload data on shoppers movements and product choices, enabling customers to simply walk into a store, pick up their desired items, and wa
By Steve Farrell2020-12-21T13:00:00+00:00
Source: Trigo
Trigo uses AI-powered computer vision and ceiling-mounted cameras to allow customers to pick up what they want and walk out of stores without visiting a checkout
Tesco-backed frictionless checkout firm Trigo has raised $60m in a series B funding round, bringing total investment in the Israeli business to $94m.
The latest funding, led by venture capital firm 83North, would be used to scale Trigo’s ability to meet growing demand and boost R&D, the checkout-free tech company said.
Existing investors joined the round, including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners and Morrag Investments, as well as Tesco.