Israel's Trigo said on Monday it raised $60 million in a private funding round to help it meet the demand for its technology that allows customers to shop without having to wait in line at a store's checkout.
Trigo said businesses can install its computer-vision platform, including ceiling-mounted cameras that track customer movement and product choices, to make shopping "frictionless." Payments and receipts are handled digitally.
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Venture capital firm 83North led the funding round, which included previous investors like Tesco, Vertex Ventures Israel and Hetz Ventures. The company has now raised a total of $94 million.
Smart checkout technologies are expected to process nearly $400 billion in transactions by 2025, up from $2 billion this year, according to analyst house Juniper Research.
