Checkout Technologies, a Verona and Milan, Italy-based startup that is advancing an AI-powered checkout automation platform in store, raised €400k in seed funding.
Backers included members of the Angels 4 Innovation network.
The company, which has already opened an additional €800k round (with €250k already committed), intends to use the funds to hire new people and to invest in hardware.
Led by recently appointed president Enrico Pandian, Checkout Technologies is advancing an AI-powered checkout automation platform for people to avoid queuing up at the counter, like come “Amazon GO”, but in all grocery stores.
Commenting on the announcement, Pandian said: “we already have a demo which retailers wordwide are testing in our Milan offices and we are working to launch a first pilot store in Milan or London at the beginning of 2018.
“We have created a team of AI, computer vision, face recognition, gesture recognition, and deep learning engineers to go to market before Amazon GO and offer retailers new technology which aims to revolutionate the way people do their grocery shopping,” he added.
FinSMEs
19/06/2017