INSUBCONTINENT EXCLUSIVE:
The $50 million-funded autonomous checkout startup is racing to equip bigger shops with scanless payment technology that lets customers walk
out the door without ever stopping at a cashier
While Amazon Go opens its own 2,000 square foot boutiques, Standard Cognition is working on outfitting 20,000 square foot and larger drug
The more accurate the machine vision is, the larger the store you can equip
Initialized Capital, and a fast-moving team of seven co-founders, it believes it can outmaneuver Amazon
That means doing whatever it can to leap forward
trying to generate their own maps
They cobbled together data from several providers, built maps specifically for different purposes, and soon had fellow startups trying to
They raised just under $1 million from Story Ventures, early Facebook engineer Nick Heyman and more, growing the team to seven
But then they took a left turn into retail
That means minimizing installation fees, perfecting onboarding and instruction, and recognizing the difference between someone putting an
item back on the shelf versus into their jacket
is pushing as fast as it can build a lead and brand by giving independent retail stores and chains the firepower to fight off Amazon
Grabango now has signed deals with four U.S
retail chains up to 25,000 sq ft in size and has 37 employees
Two to three years from now, I think this will be potentially as crowded as autonomous vehicles
We need to be light-years ahead to capture as much of the market as we want
