Big hitter backs smart shopping trolley startup IMAGR

New Zealand automated checkout startup IMAGR has raised $9.5 million in a pre-Series A funding round led by Toshiba Tec Corporation.

The venture’s SmartCart intelligent shopping trolley taps computer vision and AI technologies to reduce in-store queues.

William Chomley, IMAGR CEO, says: "It's thrilling to be backed by an international PoS leader like Toshiba Tec which owns 96% of the convenience market in Japan. Its support shows we have the right technology in place to change how retail shopping is done across the world."

Masami Uchiyama, Toshiba Tec Senior Vice President, comments: "We looked globally for the most promising automated checkout provider and settled on IMAGR as the most advanced technology of its kind."

"Its computer vision and AI technology is industry leading, outperforming other AI retail systems we have seen, and the integration into existing stores is simple and scalable. We can't wait to see IMAGR change the retail industry in the 2020s."

The SmartCarts will launch next year in Japan with H2O Retailing Corporation and in New Zealand with Farro Fresh. Chomley says the funding from the capital raise will be used for these roll-outs, as well as for further international expansion.

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