Trigo, an Israeli startup that offers retailers new technologies for in store customer service and checkout, raised $100 million in a new equity financing round led by Singapore state investment firm Temasek Holdings and 83North.
Founded in 2018 by brothers Michael and Daniel Gabay, Trigo uses AI-powered computer vision technologies together with off-the-shelf hardware to retrofit existing stores. The company applies its proprietary algorithms to ceiling-mounted cameras which automatically learn and upload data on shoppers’ movements and product choices, enabling customers to simply walk into a store, pick up their desired items, and walk out without stopping at the checkout. Payments and receipts are settled digitally.
Trigo converts conventional supermarkets and grocers into fully autonomous, digital stores by integrating their technology with Trigo’s computer vision. After scanning a QR code with their smartphone upon entry, shoppers will be able to pick upitems and depart without having to check out.
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The company’s Proprietary algorithms learn customers and products patterns to ensure a 100% accurate and natural shopping experience once live.
“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,” said Michael Gabay. “This investment allows Trigo to execute on its expansion plan and mature our product to support the evolving needs of our customers.”
And Trigo has also been expanding the company’s operations around the world.
Back in January, Trigo entered into an arrangement with Wakefern Food Corp., the U.S largest retailer cooperative, to test an autonomous supermarket using Trigo’s AI-based frictionless checkout technology.
Wakefern is ShopRite’s logistics, distribution, and merchandising arm, which comprises 50 companies that own and operate about 360 retail supermarkets under the ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, and Fairway Market banners.
And in October 2021, Trigo partnered with England’s Tesco PLC to open its first fully autonomous checkout-free grocery store in one of London’s busiest commercial centers.