Zippin, a San Francisco, CA-based startup enabling cashierless checkout for brick and mortar retail, closed a $12m in Series A funding.
The round, which brought total funding to $15m, was led by Evolv Ventures, with participation from SAP.iO, Scrum Ventures, major Latin American distributor Arca Continental, and Nomura Research Institute and NTT DOCOMO Ventures from Japan and existing investors Maven Ventures, Core Ventures Group, Pear Ventures and Montage Ventures.
The company intends to use the funds to accelerate product innovation, grow its technical team and expand sales and partnership efforts.
Launched in 2015 and led by Krishna Motukuri, CEO, Zippin uses a combination of computer vision, AI, and sensor fusion technology to offer consumers a completely checkout-free shopping experience.
The company is powering four autonomous public stores and several private pilot stores globally including The Sacramento Kings’ venue, which also marks the launch of the ‘Zippin Cube’, a modular, pre-fabricated ‘store-in-a-box’ concept that allows retailers to launch a fully functional autonomous microstore (300 – 500 sq. ft) in less than three weeks from placing the order.
FinSMEs
12/12/201p