July 11, 2018 | Israeli retail automation startup Trigo Vision has emerged from stealth mode to announce it has raised $7 million in a seed funding round. The funding round was led by UK-Israel based firm Hetz Ventures and Vertex Ventures Israel. The funding will be used to grow the company’s R&D team and build new applications for their tech.
The Tel Aviv-based company’s platform, like the system that backs automated supermarket Amazon Go, combines a sophisticated ceiling-based camera network with machine vision algorithms to identify the customer’s shopping items with accuracy while they are at the store, eliminating the need for a checkout process.
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Developed by AI and algorithm experts that once worked at Google, Amazon, and Apple, Trigo is currently testing its platform in a few undisclosed locations, according to Venture Beat.
“Any type of automation market has to work with exceptionally high levels of accuracy, particularly in such a direct consumer-facing environment such as retail,” says Daniel Gabay, co-founder and CTO of Trigo Vision, in a statement. “This is our goal and we believe the technological capabilities of our platform, with its combination of flexibility and scalability, can supercede rivals in the space, even compared to that of the tech behemoths.”
“We have received tremendously positive feedback for Trigo Vision,” adds CEO and Co-Founder Michael Gabay, “We’re already in talks with major grocers globally and we’re confident that Trigo Vision will be the first platform to debut in a live retail store. With this investment, we will be looking to develop additional novel applications to our tracking technology, driving in-store operational efficiency and customer engagement even further,”