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Trigo, a retail checkout system developer, has raised $10M (the exact amount is undisclosed). Its total funding has crossed $100M with this funding, and it looks to partner with Germany’s REWE Group to help them set up a ‘grab and go’ shopping experience for its new store in Cologne
Tel Aviv-based Trigo, a developer of AI-based retail checkout systems, has raised $10 million in a venture round from Germany’s REWE Group and Israel’s Viola Growth. With this round, Trigo’s total funding raised now stands at $104 million as per the statements of Michael Gabay, its co-founder and CEO.
Trigo’s previous fundraising includes a Series A in 2019, where it raised $22 million, and a $60 million Series B funding in 2020. Taking the formal announcement to his LinkedIn handle, Mr. Gabay stressed that the funding indicated a deep sense of confidence by investors in Trigo’s mission to provide seamless checkout for retailers across the globe.
REWE has placed their trust in Trigo’s privacy-by-design architecture, and we look forward to bringing this exciting technology to German grocery shoppers. We are also looking forward to working with Viola Growth, an iconic investment firm backing some of Israel’s top startupsMichael Gabay
Alongside the funding, Trigo would now partner with the REWE Group to deliver a “grab and go ” shopping experience for the customers of REWE’s new store in downtown Cologne.
Trigo’s retail automation platform identifies customers’ shopping items accurately and creates a seamless checkout experience. It collaborates with retailers to convert their existing stores while maintaining their unique character and layout.
Commenting on the investment, Christoph Eltze, executive board member of REWE Group, stated that REWE Group believed that Trigo is a leading company in computer vision technologies for smart stores, a reason for REWE’s investment in Trigo.
Eran Westman, partner at Viola Growth, stated that it is crucial to find the right partners as frictionless shopping increases its presence among retailers and added,
Frictionless shopping is rapidly becoming a ubiquitous demand among retailers all over the world. We’ve been following Trigo for the past several years, and we believe their superior technology and unique offering to top retailers positions them to lead this category and change the way people shop all over the world.Eran Westman, partner at Viola Growth