Tel-Aviv-based Trigo Vision, a retail automation platform, has emerged from stealth and raised $7 million in a seed funding round led by Hetz Ventures and Vertex Ventures Israel. Trigo Vision's platform eliminates the need for store checkouts by combining an extensive ceiling-based camera network with machine vision algorithms that can accurately identify items selected by shoppers.
The company plans to use the new funding to hire top talent for its R&D team and build new applications for its technology.
Trigo Vision's system is intended to offer several benefits to brick-and-mortar shops, including increased levels of customer service, a reduction in shoplifting, enhanced retail intelligence for stores and brands on buying behavior with real-time insights, and the removal of checkouts. The company's GDPR-compliant technology also allows for anonymous data collection.
"We have received tremendously positive feedback for Trigo Vision," said Michael Gabay, the company's co-founder and CEO. "We're already in talks with major grocers globally and we're confident that Trigo Vision will be the first platform to debut in a live retail store. With this investment, we will be looking to develop additional novel applications to our tracking technology, driving in-store operational efficiency and customer engagement even further."
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