Checkout free stores startup Zippin bags Series B funding
US startup Zippin has raised $30 million in Series B funding from new and existing investors including OurCrowd, Maven Ventures, Evolv Ventures and SAP.
This brings the checkout free store venture’s total funding to more than $45 million.
Zippin says that the latest funding round will enable it to scale its platform and power tens of thousands of stores by 2025.
Customers include food service providers Aramark Corporation and Compass Group, Japan’s third largest convenience store chain Lawson, and Brazilian retailer Americanas.
“Their technology advantage is one of the main reasons we chose Zippin. We evaluated several companies in this space and found Zippin to be the clear leader with most stores in public settings,” says Jon Medved, CEO and Founder, OurCrowd.
“Many of the Zippin powered stores in sports venues can attract up to 500 shoppers in a single hour, putting the underlying AI to the ultimate test.”
“Zippin’s continued growth in such challenging environments is evidence of their superior technology, and also a competitive advantage, allowing their AI to train on some of the richest datasets provided by those challenging environments.”
“We have seen increased demand and rapid adoption of checkout free technology during the pandemic,” comments Krishna Motukuri, Zippin’s Co-founder and CEO.
“Shoppers want contactless experiences everywhere they go. As retailers realise that frictionless checkout free technology is also contactless by design, they see a great opportunity to kill two birds with one stone.”
“With a platform like Zippin, retailers can offer shoppers what they are looking for today, and future proof their business, both at the same time.”
