Computer vision company Trigo presents $100 million in a new round of equity financing. The solution provider will use the funds to scale up the deployment of autonomous city supermarkets in Europe and the US, enter new regions and develop StoreOS, its suite of store and inventory management software applications.
Trigo’s solution is designed to help supermarkets create a “digital twin” of the store using information from ceiling-mounted cameras and shelf sensors. The technology is designed to enable frictionless checkout, real-time inventory tracking, and other technologies.
“By opening multiple autonomous stores with five of the world’s leading grocery retailers, we have demonstrated that we can deploy computer vision and artificial intelligence to provide brick-and-mortar stores with the same insights and capabilities as e-commerce stores,” Co–Trigo The founder and CEO said in a statement. “This investment enables Trigo to build on this success by focusing on three core initiatives: expanding our self-directed retail platform, building larger and larger stores and executing a series of contracted stores globally.”
The investment was led by Singapore-based investment firms Temasek and 83North. New strategic investors include SAP SE, which will also help commercialize Trigo’s solutions.Existing investors participating in the round include Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola and the supermarket giant Ruiwei Groupone of the world’s leading retailers.