Trigo Vision lands new funding, eyes global expansion
Trigo Vision, a computer vision startup providing checkout-free systems to grocery retailers, has raised $22 million in a Series A round. This was led by Red Dot Capital with the participation of existing investors Vertex Ventures Israel and Hetz Ventures. Trigo Vision has pulled in $29 million in total funding to date.
The funds will enable the company to scale its technology for even larger store sizes (currently at 2X the footprint of Amazon Go, according to Trigo Vision) and advance its partnerships with grocery retailers. These include Israel’s largest grocer, Shufersal, which will be deploying the technology in 280 stores over the next five years.
“There is very strong demand globally among grocery retailers to dramatically improve customer experience,” says Michael Gabay, Co-founder and CEO, Trigo.
“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.”
“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,” comments Barak Salomon, Managing Partner at Red Dot Capital.
“The process of manually scanning barcodes for each separate item at checkout is outdated and time consuming. This technology is going to save bricks and mortar, revitalising the in-store experience while keeping the best part of shopping alive.”
