Trigo, an Israel-based computer vision company building the infrastructure for autonomous retail stores and retail analytics, has raised $100m in an equity financing round.
The investment was led by Singapore investment firm Temasek and 83North.
New strategic investors included SAP SE, who will also help commercialise Trigo’s solution.
Existing investors also joined the round, including Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola, and supermarket giant REWE Group, one of the world’s leading retailers.
Trigo aims to transform existing supermarkets into fully autonomous digital stores where feeds from ceiling-mounted cameras and shelf sensors are analysed to generate a “digital twin” of the store.
Computer vision algorithms, similar to the ones on driverless cars, log interactions between humans and merchandise.
The result, according to Trigo, is a fundamental transformation in the way physical stores are being managed and experienced by both shoppers and operators.
Shoppers can walk into stores, select their items off the shelves, and leave without having to queue at checkout or scan any goods. Payments and receipts are settled digitally.
Trigo’s solutions are currently deployed with leading grocery retailers, including Tesco PLC in the UK, ALDI Nord in The Netherlands, REWE Group in Berlin and Cologne, Netto Marken-Discount (also known as Netto) in Munich, Israel’s Shufersal (SAE), and Wakefern Food Corp., the largest retailer-owned cooperative in the U.S.
Trigo said it will use the funds to execute on significant deployment of stores, increase the size of stores supported to include full-sized urban supermarkets, expand into new geographies, and further develop its StoreOS™ offering.
Michael Gabay, Trigo co-founder and CEO said, “By opening multiple autonomous stores with five of the world’s leading grocery retailers, we have proven that we can deploy computer-vision and AI to empower physical stores with the same kinds of insights and capabilities that e-commerce stores have.”
Recently, Paytrix, an embedded payments company for high-growth vertical software platforms, bagged £5min new funding.
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