Standard Cognition, a San Francisco, CA-based AI-powered checkout provider, raised $5m in seed funding.
The round was led by Charles River Ventures with participation from Initialized Capital and Y Combinator, and others.
The company intends to use the funds to double its engineering team by the end of the year and launch its first public US store with a retailer in early 2018.
Led by Jordan Fisher, CEO, and Michael Suswal, Chief Operating Officer, Standard Cognition has launched an artificial intelligence-based system that lets consumers shop and pay without scanning or stopping to check out – in August 2017. An alternative to Amazon Go, the Standard Cognition platform is one of the first such solutions available to retailers.
The company participated in Y Combinator’s Summer 2017 batch.