Trigo co-founders Michael (left) and Daniel Gabay. Credit Tom Bartov (002)
Trigo, an Israeli startup that offers retailers new technologies for in store customer service and checkout, is having problems. The firm was forced to let go of 15 employees, or 15% of its workforce.
It was only a little over one year ago that Trigo 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.
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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.
The company’s Proprietary algorithms learn customers and product patterns to ensure a 100% accurate and natural shopping experience once live.
“The company continues to grow in the global retail sector. Our clients include some of the world’s largest retail corporations that are currently undergoing the most significant digital transformation experienced by the industry,” Trigo told the Israeli publication Calcalist. “To sustain our leadership in innovation, we are expanding the deployment of cutting-edge technologies, specifically in computer vision and artificial intelligence, across our customer base and into various markets and business sectors. Trigo remains committed to hiring employees for expanding departments within the company. However, as part of the necessary changes for ongoing development and business focus, we are implementing adjustments, including in personnel.”
