Checkout Free Cashierless
From Retail TouchPoints Feb 2021 —
Excerpt:
Standard Cognition has a raised $150 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from existing investors CRV, EQT Ventures and TI Platform Management and new investors including SK Networks. This brings the solution provider’s total funding above $236 million, which will enable Standard to execute at scale its plans to outfit more than 50,000 checkout-free stores in the next five years.
Notes
- Ceiling mounted cameras
- Zero Facial Recognition for privacy
- AI Engine
- Cashierless
- Pretty nifty URL https://standard.ai/
- Amazon Go competitor
- Arizona store is first to get it
- “We’ve got commitments for 40 more stores on the books,” said Jordan Fisher, Standard’s cofounder and chief executive officer, who believes the pandemic has accelerated interest in cashierless technoloy. “We are really on the precipice of unleashing this on the world.” He said Standard will use $150 million in new funds to expand its installation team, among other things.
- Compass, which operates thousands of locations including canteens at Google headquarters, has installed Standard’s technoloy in three spots so far, including a convenience store at the University of Houston. Compass is hedging its bets by also testing Amazon Go’s “Just Walk Out” technology
