Mashgin, a Palo Alto, Ca-based world's fastest touchless self-checkout system powered by AI and computer vision, announced that it raised $62.5 million in Series B funding at a $1.5 billion valuation.
The round was led by global venture capital firm NEA and brings Mashgin's total funding to date to $74.7 million. Existing Mashgin investor, Matrix Partners also participated in the Series B round.
Mashgin will use the new funding to grow its team, accelerate expansion, and scale internationally.
Company: Mashgin, Inc.
Raised: $62.5M
Round: Series B
Funding Month: May 2022
Lead Investors: NEA
Additional Investors: Matrix Partners
Company Website: https://www.mashgin.com/
Software Category: AI-powered self-checkout system
About the Company: Founded in 2013, Mashgin is the world's fastest self-checkout system powered by AI and computer vision. Consumers demand instant gratification. Mashgin's Touchless Checkout System eliminates consumer frustration while increasing revenue for retailers with checkout that is four times faster than cashiers and traditional points-of-sale. There's no need to look for and scan bar codes: customers simply place their items on Mashgin's tray, pay electronically, and can be on their way in as little as 10 seconds. Headquartered in Palo Alto, California.
Source: https://www.prnewswire.com/news-releases/mashgin-raises-62-5m-series-b-funding-at-a-1-5-billion-valuation-led-by-nea-301542339.html