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Trigo, a company based in Israel, revealed on Wednesday that it had raised $100 million in an undisclosed investment round to hasten the adoption of technology that enables customers to shop without standing in line at checkout counters.
Temasek and his 83North, an investment business based in Singapore, took the lead in the financing. Existing investors Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola, and supermarket behemoth REWE Group have joined new strategic partner SAP SE to aid in the commercialization of the Trigo solution.
By making shopping “frictionless” with ceiling-mounted cameras that monitor consumer movements and product selections, Trigo converts current supermarkets into completely autonomous digital stores. It claims to employ technology. Receipts and payments are handled online.
The business announced that it will utilize the fresh capital to create a suite of products for inventory management as well as to continue its expansion into the US and Europe.
Tesco PLC in the UK, his ALDI in the Netherlands, Wakefern in the US, Netto, and REWE in Germany all employ Trigo’s technology.