Caper, a NYC-based AI-powered shopping cart that uses computer vision to enable a quick retail experience, closed a $10m Series A round of funding.
The round was led by Lux Capital with participation from First Round Capital, Y Combinator, Hardware Club, Sidekick Fund, FundersClub, Red Apple Group, as well as other undisclosed strategic investors. Zack Schildhorn, partner at Lux Capital, joined the Board as part of the financing
The funding will be used to expand the team and fulfill its rollout pipelines with mega-retailers.
Led by Lindon Gao, Founder & CEO, Caper provides an automated checkout platform uses AI shopping carts with installed sensors and computer vision. The deployment of its autonomous checkout requires no infrastructure change and no operational overhaul. Store owners can put carts in their stores and enable a quick checkout experience that complements their store’s existing business.
The company has executed commercial contracts with some of the largest grocery chains in North America and plans to deploy over 1,000 carts in the coming year.