Trigo, the Israeli seamless shopping startup, has raised $100 million in a financing round.
The funding will help it scale deployment of its autonomous supermarkets across Europe and the US, enter new geographies, and develop new software.
Trigo, a Tel Aviv-based company founded in 2018, uses AI tech and ceiling-mounted cameras to track every item a shopper selects (or puts back on the shelf). Customers scan a QR code as they enter, and the purchase amount is automatically deducted as they leave.
The investment was led by Singapore investment firm Temasek and 83North, as well as existing investors. New strategic investors include SAP SE, which will also help commercialize Trigo’s solution using its S/4HANA planning software for large enterprises.
“By opening multiple autonomous stores with five of the world’s leading grocery retailers, we have proven that we can deploy computer-vision and AI to empower physical stores with the same kinds of insights and capabilities that e-commerce stores have,” said Michael Gabay, Trigo Co-founder and CEO.
“This investment allows Trigo to build on this success and focus on three core initiatives: expanding our autonomous retail platform, building increasingly larger stores, and executing a pipeline of contracted stores around the world.”
Joern Keller, EVP and Head of SAP S/4HANA Industry Cloud at SAP SE said, “Trigo’s superior computer vision technology built the infrastructure for grab-and-go shopping and laid the foundation for additional in-store scenarios of the future.
“As a leading provider of enterprise software for the retail industry, SAP is delighted to join as a strategic investor to Trigo to support the development of the StoreOS autonomous supermarket operating system.
“Their solutions will complement SAP’s cloud solutions for retail, integrating seamlessly with SAP S/4HANA and pave the way towards building an intelligent store.”