Tesco-backed autonomous store developer raises $100m

Tesco-backed Trigo, the Israel-based autonomous store business, has raised $100 million in a new equity financing round.

The company, which is testing its technology with Tesco in the UK and Aldi in the Netherlands, said the investment would be spent on scaling the roll out of autonomous supermarkets across the US and Europe.

Trigo turns existing supermarkets into autonomous digital stores where feeds from ceiling-mounted cameras and shelf sensors are analysed to generate a ‘digital twin’ of the store.

Computer vision algorithms – similar to those used in driverless cars - monitor interactions between humans and merchandise, enabling shoppers to select items off the shelves, and leave without having to queue at checkout or scan any goods. Payments and receipts are settled digitally.

The company said the funding will be used to further develop its store and inventory management software application suite, StoreOS.

On top of its infrastructure, the company said it will in time offer retailers access to additional applications through its StoreOS, with functions including the ability to track inventory in real-time, personalise marketing, and manage store and supply chain operations predictively.

The funding round was led by Singapore investment firm Temasek and 83North.

Michael Gabay, Trigo co-founder and chief executive, commented: “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.”

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