Trigo, a Tel Aviv, Israel-based computer vision company building the infrastructure for autonomous retail stores and retail analytics, raised $100m in equity financing.
The round was led by Singapore state investment firm Temasek Holdings (TEM.UL) and 83North. New strategic investors include SAP SE. Existing investors include Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola, and REWE Group.
The company intends to use the funds to scale deployment of autonomous urban supermarkets across Europe and the US, enter new geographies, and develop its comprehensive store and inventory management software application suite, StoreOS™.
The company will use the funds to execute on significant deployment of stores, increase the size of stores supported to include full-sized urban supermarkets, expand into new geographies, and further develop its StoreOS™ offering.
Led by Michael Gabay, CEO, Trigo transforms existing supermarkets into fully autonomous digital stores where feeds from ceiling-mounted cameras and shelf sensors are analyzed to generate a “digital twin” of the store. Computer vision algorithms –similar to the ones on driverless cars –log interactions between humans and merchandise. The result is a fundamental transformation in the way physical stores are being managed and experienced by both shoppers and operators. For example, shoppers can walk into stores, select their items off the shelves, and leave without having to queue at checkout or scan any goods. Payments and receipts are settled digitally.
Built on top of that core technological infrastructure, the company will offer retailers access to additional applications through its StoreOS™ store operating system, with which they can track inventory in real-time, minimize out-of-stock and expired items for in-store and online shopping, mitigate fraud, personalize marketing, and manage store and supply chain operations predictively.
Trigo’s solutions are currently deployed with some of the world’s leading grocery retailers, including Tesco PLC in the UK, ALDI Nord in The Netherlands, REWE Group in Berlin and Cologne, Netto Marken-Discount (also known as Netto) in Munich, Israel’s Shufersal (SAE), and Wakefern Food Corp., the largest retailer-owned cooperative in the U.S.
FinSMEs
27/10/2022