Trigo co-founders Michael (left) and Daniel (right) Gabay.
Trigo has raised $100 million in an equity financing round led by Singaporean investment firm Temasek and 83North.
The round included participation from new and existing investors, such as SAP, Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola and supermarket giant Rewe Group.
Based in Israel, Trigo uses artificial intelligence to build the infrastructure for autonomous grocery stores. The company works with retailers to convert their existing stores into frictionless shopping experiences.
Employing technologies such as ceiling-mounted cameras and shelf sensors, Trigo’s retail automation platform identifies picked-up shopping items with very high levels of accuracy, enabling a seamless checkout process.
In addition, the company says that its StoreOS store operating system can track inventory in real-time, minimise out-of-stock and expired items, and manage store and supply chain operations predictively.
Trigo solutions are employed by leading grocery retailers around the world, including Tesco in the UK, Aldi Nord in the Netherlands, Rewe, Netto, Israel’s Shufersal and Wakefern Food. The company will use the new capital to scale the deployment of its cashier-free technology across the US and Europe, expand into new geographies and further develop its StoreOS store and inventory management software application suite.
Michael Gabay, Trigo co-founder and CEO, said: “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. 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 at SAP, added: “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.”
© FoodBev Media Ltd 2022
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