Michael Gabay, CEO of Trigo, which is developing a system for buying in retail chains without cash registers and queues, says: “We allow purchases without crowding the queue and without contacting common surfaces.”
Photo: TRIGO
One of the places that was the only place of refuge to which we could escape in closure A and B, the supermarket, is in the heart of an Israeli startup – who wants to make it smart with the help of artificial intelligence. Trigo, formerly Trigo Vision, announced today (Monday) the completion of a $ 60 million B round of funding. The round was led by the 83North Fund and was also attended by existing investors, including Vertex Ventures, Morrag Investments, Red Dot Capital Partners, Hetz Ventures and Tesco.
“The corona has increased interest in us”
Trigo’s system uses computer vision, artificial intelligence and algorithms to identify which products the consumer in the store has taken from the shelf, and charge it accordingly, without meeting the checkouts and without even scanning the products at self-service stations.
The customer can choose between two billing routes: an identified purchase in which they must identify themselves at the entrance to the store with a card or app, or an unidentified purchase route that allows them to pay for the products at the end of the purchase, without scanning them at checkout. Trigo’s system must be installed on standard cameras in the store’s ceiling, and of course enter the existing list of products in the store (although most of them are already registered in the company’s system).
In conversation with Giktiim Says CEO Michael Gabay says that although Corona has passed quite a few of us to order groceries from the supermarket, in the rest of the world most people still came physically to buy their groceries – even during the plague. “Israel is exceptional in terms of the number of people who purchase online. This is why the Corona has increased the interest in us, since we allow a purchase to be made without crowding in the queue, without contact with common surfaces. As a result, the length of stay of shoppers in the store is also shortened, in order to expedite the entry of new customers within the limits of the Corona, ”Gabay said.
On the big competitor, the American retail giant Amazon, Gabay said that Amazon offers a solution that requires the establishment of stores from scratch according to its technology, unlike Trigo’s technology that is adapted to existing stores: “The marketing chains have thousands of existing branches. It should be remembered that most large retailers will not work with a company they see as their direct competitor, “says Gabay, adding that since the company’s previous recruitment in 2019, the company has reached operational level” not only in terms of the system’s ability to produce the purchase experience What is needed around to support the operation of branches. “
According to Gabay, the recruitment round closed very quickly, similar to the sales rate, according to the company: “One of the largest marketing chains in the world signed with us quickly compared to the rate before the corona.”
Trigo was founded in 2018 by the brothers Michael Gabay, CEO of the company, and Daniel Gabay, VP of Technology. The company currently employs 85 people in the development center in Tel Aviv and in the company’s offices in London. Trigo says that the capital raised will be used to expand the company’s development center in Tel Aviv and expand the company’s global deployment. The company’s B round brings the total investment in it to $ 94 million.
Oshri Alexelsi
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