Tel Aviv-based Trigo announced a $22 million Series A round, led by growth fund Red Dot Capital with support from existing investors Vertex Ventures Israel and Hetz Ventures. The company is bringing their frictionless-checkout technology to grocery stores around the world, enabling retailers to compete against Amazon Go.
In fact, Trigo is already installed in the world’s largest checkout-free stores, currently twice the square footage of Amazon Go’s largest facility. The new funds will help scale the company’s product for even larger store sizes and advance its partnerships with leading US and European grocery retailers.
Trigo’s computer-vision system uses 3D space-mapping technology along with advanced AI to identify and record items selected by shoppers while they walk around the store. To purchase, customers simply pick up the items they need. They can be billed automatically or may pay on the spot by cash or card. Grocery shopping no longer has to mean waiting in line or scanning items.
“There is very strong demand globally among grocery retailers to dramatically improve customer experience,” said Michael Gabay, co-founder and CEO of Trigo. “The common denominator is that everyone is searching for technology to enable the most seamless in-and-out shopping experience.”
Barak Salomon, Managing Partner of Red Dot Capital echoed this claim: “The process of manually scanning barcodes for each separate item at checkout is outdated and time consuming. Trigo’s technology is going to save brick and mortar, revitalizing the in-store experience while keeping the best part of shopping alive.”
Salomon also expressed his confidence in the company’s ability to take on Amazon Go in the market. “We believe that Trigo’s world-leading computer-vision team will be the first to scale this technology globally and unlock the full potential of a true grocery-wide revolution.”
Trigo was founded in 2018 and has raised $29 million in funding to date.