JERUSALEM (Reuters) - Trigo, an Israeli-startup whose technology allows customers to automatically check out in grocery stores, said on Monday it raised $22 million in an early stage funding round, bringing funds raised to date to $29 million.
The round was led by growth fund Red Dot Capital with participation of existing investors Vertex Ventures Israel and Hetz Ventures.
The funds will enable the company to expand its technology for even larger store sizes and grow its partnerships with leading U.S. and European grocery retailers.
Trigo, it said, is currently installed in stores as large as 5,000 square feet.
Trigo is already partnering with a number of global grocery chains including leading European chains and Israel’s largest grocer – Shufersal, which will be deploying Trigo’s technology in 280 stores over the next 5 years.
The company’s computer vision system uses advanced artificial intelligence to identify and record items taken by shoppers while they are in the store. They can later be billed automatically or pay cash or by card.
Reporting by Steven Scheer