Check-out free shopping is the future
Grabango has raised a $12 million Series A round led by Propel Venture Partners. Other investors included Ridge Ventures, Abstract Ventures, Commerce Ventures, and Founders Fund, according to VentureBeat. The startup provides technology to allow for checkout-free shopping.
Amazon lurks… The internet giant has begun testing its cashierless checkout technology in large spaces formatted like a big store (think Whole Foods). The checkout-free system is already operational in a few small Amazon Go stores.
Future of retail: These stores use cameras and software to detect items that customers pick up and charges them accordingly. With the help of a smartphone app, it allows shoppers to forgo the entire check-out process. Amazon plans to open as many as 3,000 cashier-less stores by 2021.
Other competitors include… Trigo Vision, Standard Cognition, and Zippin.