Amazon Go challenger Standard Cognition buys Checkout Technologies
US-based autonomous checkout venture Standard Cognition has acquired Italian venture Checkout Technologies. Terms of the deal were not disclosed.
“With this acquisition, we gain solid technology and more than a dozen top-shelf AI and machine learning engineers, and it gets us an immediate ground presence in Europe,” says Jordan Fisher, Co-founder and CEO, Standard. “More engineering power means we can accelerate our roadmap and bring new innovations to our clients faster.”
Enrico Pandian, founder and CEO of Checkout Technologies (and also the founder of Italy’s Supermercato24), comments: “Standard has emerged as the clear leader in autonomous checkout, and we are thrilled to now be part of this team. We were both working on the same retail issues and we found that we had a lot in common. Together, we can make significant inroads in the global retail market.”
Other acquisitions
Standard Cognition has raised $86 million in funding from the likes of CRV, Initialized Capital, EQT Ventures and Y Combinator. Last year, it acquired DeepMagic and Explorer.ai, further details on which can be found here.
