The Artificial Intelligence empowered platform Trigo based in Tel Aviv, Israel raised US$ 60 million funding on 21st December 2020.
The Series B funding was led by venture capital 83North and included participation from the British MNC general merchandise and grocery retailer, Tesco which is also piloting the technology of enterprise near London at a convenience Store. It is a 3,000 square foot mom and pop store located approximately 20 miles from the north of London. This fueled the startup to enter the mainstream markets of Europe and eventually can aid them to enter into the US market as well. The latest funding round investment is around triple the amount Trigo announced previous year and highlights the interest of retailers in the smart checkout technology.
Trigo provides a frictionless shopping experience powered by computer vision and artificial intelligence that helps in the automation of in store processes for convenience and grocery store retailers. It also offers other solutions like pricing automation, fraud prevention, predictive inventory management, event driven marketing and planogram compliance.
The co-founder of Trigo, Michael Gabay, “The technology we offer enables grocers to integrate the insights and efficiencies of e-Commerce in the physical world by providing hassle free checkout experience for the consumers.”
In addition to the contact free checkout experience it has also increased the use of several mobile checkout programs and the facility of online ordering in the pandemic times. And as the company says, they saw an increased demand for its technology during 2020 that furnishes stores with computer vision enabled cameras. Trigo is working with retailers in Europe for opening technology-enabled stores by 2021.
About Trigo
The smart checkout enterprise Trigo was established in 2018 by Michael Gabay and Daniel Gabay. Its system comprises ceiling mounted sensors and cameras enabled with the power of artificial intelligence applying the deep learning architecture. Using this hardware and software combination that creates a three dimensional image of the shop and thereby maps the movement of shopper, product choices. This technology enabled with three-dimensional mapping capabilities is easily integrated and provides a highly accurate checkout system. It streamlines the various retail operations, provides valuable insights for the detailed process, prevents shoplifting and provides opportunities for a better level of consumer engagement within the retail environment. Headquartered in Tel Aviv Israel, Trigo retrofits in the existing convenience stores and allows the retailers to incorporate futuristic cutting edge technology without adding any building costs.
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