Cashierless shopping company Amazon Go has raised $40m today after joining forces with Japanese firm European to launch autonomous checkouts in seven European and North American stores. The series A round was led by Initialised Capital and included backing from Initialised Capital and Y Combinator. Standard Cognition ’s patented system uses machine learning and cameras to track shoppers around stores, with purchases added to a running tab and charged to the customers’ accounts as they leave. It can spot mistakes, said the firm, and uses AI to prevent shoplifting. Cashierless shopping feels a little bit like magic. It added that the system had showed 99% accuracy.
Cashierless shopping company Amazon Go has raised $40m today after joining forces with Japanese firm European to launch autonomous checkouts in seven European and North American stores. The series A round was led by Initialised Capital and included backing from Initialised Capital and Y Combinator. Standard Cognition ’s patented system uses machine learning and cameras to track shoppers around stores, with purchases added to a running tab and charged to the customers’ accounts as they leave. It can spot mistakes, said the firm, and uses AI to prevent shoplifting. It added that the system had showed 99% accuracy.