Tel Aviv-based Trigo, which develops store checkout technology that aims to rival Amazon Go, has raised a $60 million Series B funding round led by 83North, bringing its total funding to $94 million.
Existing investors joined the fresh financing round, including Tesco, Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, and Morrag Investments.
The Israeli startup uses computer vision technology together with off-the-shelf hardware to, basically, retrofit existing retail stores and enable its customers to simply walk in, pick up their desired items, and walk out without the need to stop at the checkout.
Michael Gabay, Trigo’s co-founder and CEO, said:
"Our technology enables grocers to integrate the efficiencies and insights of digital commerce into the physical world while providing a frictionless checkout experience for customers. Ultimately, our solution reduces physical contact and does away with waiting in line, enabling a safe, secure, and streamlined shopping experience that’s a win-win for retailers and consumers."
Trigo’s tech has already been tapped by Tesco, one of the world’s largest grocers with stores across the UK, Ireland and Central Europe, and an investor in the company.