Trigo raises $100M to expand its Amazonstyle cashierfree store technology

News Summary

  • “Tech-enabled cost savings accumulate over time and boost grocery retailers’ margins,” he said.One argument for Trigo is that its tech can be used for all shopping, no matter the cart size, its focus right now, Gabay said, are large format supermarkets.
  • Amazon has become the pacemaker in commerce, and today a startup that’s been building technology to help retailers keep up with it in the world of physical stores is announcing some funding to expand its business.
  • This latest round brings the total raised to almost $300 million.Computer vision, machine learning and other innovations in artificial intelligence are being put to use in earnest in autonomous systems across a range of industries these days, and supermarkets have been one of the more interesting applications.
  • “But we see huge potential to retrofit thousands of existing grocery stores worldwide,” Gabay said.
  • “Especially in periods of high inflation, rising prices, and supply chain disruptions, the value of managing the inventory and procurement is huge,” he said.
  • The company does not disclose how much it costs to, say, equip an average supermarket with its technology, but it says that typically they get return on the investment within 18 months.
Amazon has become the pacemaker in commerce, and today a startup thats been building technology to help retailers keep up with it in the world of physical stores is announcing some funding to expand [+6549 chars]