Trigo, a Tel Aviv, Israel-based computer vision company building the infrastructure for autonomous retail stores and retail analytics, raised $100 million in a new equity financing round led by Singapore investment firm Temasek and 83North.
Joined by new strategic investors include SAP SE, who will also help commercialize Trigo’s solution, and existing investors including Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola, and supermarket giant REWE Group, one of the world’s leading retailers.
This funding will enable Trigo to scale the deployment of autonomous urban supermarkets across Europe and the US, enter new geographies, and develop its comprehensive store and inventory management software application suite, StoreOS™.
Trigo will use the funds to execute the significant deployment of stores, increase the size of stores supported to include full-sized urban supermarkets, expand into new geographies, and further develop its StoreOS™ offering.
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.”
Trigo’s solutions are currently deployed with some of the world’s leading grocery retailers, including Tesco PLC in the UK, ALDI Nord in The Netherlands, REWE Group in Berlin and Cologne, Netto Marken-Discount (also known as Netto) in Munich, Israel’s Shufersal (SAE), and Wakefern Food Corp., the largest retailer-owned cooperative in the U.S.
Company: Trigo Vision Ltd.
Raised: $100.0M
Round: Equity Funding
Funding Month: October 2022
Lead Investors: Temasek and 83North
Additional Investors: SAP SE, Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola, and REWE Group
Company Website: https://www.trigoretail.com/
Software Category: AI-Powered Frictionless Grocery Retail Platform
About the Company: Trigo is a technology company that builds AI-powered infrastructure for retail stores., it works closely with retailers to convert their existing stores into frictionless shopping experiences while maintaining their unique character and layout. The company's advanced retail automation platform identifies picked-up shopping items with exceptional levels of accuracy, creating an entirely seamless checkout process. Trigo’s GDPR-compliant solution is built with a privacy-by-design architecture. No biometric or facial recognition data are gathered or analyzed. Powered by its proprietary 3D engine, Trigo offers grocery retailers a range of additional solutions through its StoreOS™ suite, including predictive inventory management, pricing optimization, security and fraud prevention, planogram compliance, and event-driven marketing.
Source: https://www.businesswire.com/news/home/20221026005022/en/Trigo-Raises-100M-to-Scale-AI-Powered-Frictionless-Grocery-Retail-Platform