Accel Robotics, a San Diego-based startup focused on AI and computer vision for checkout-free stores, raised $30m in Series A funding.
The round, which brought total capital raised to date to $37m, was led by SoftBank Group Corp., with participation from New Ground Ventures, Toyo Kanetsu Corporate Venture Investment Partnership, and RevTech Ventures.
The company intends to use the funds to accelerate its expansion worldwide by growing operations, increasing manufacturing capacity, and streamlining its expanding deployment pipeline.
Founded in 2015 and incubated with RevTech Ventures and EvoNexus accelerators and led by Brandon Maseda, CEO, Accel Robotics enables checkout-free shopping experiences across existing and emerging store formats. Its camera-based AI system allows any shopper to enter a store, pick the items they want, then walk out, receiving a receipt via text or app notification. The platform enables retailers to quickly deploy stores in new environments, allowing them to extend their reach, acquire new customers, and increase revenue.
The company is deploying its commerce platform in stores with grocery, convenience, quick service restaurants, and drugstore chains in North America and Japan.
FinSMEs
03/12/2019