Grabango, a Berkeley, Calif.-based provider of checkout-free technology for existing grocery and convenience stores, raised $39m in Series B funding.
The round was led by Commerce Ventures with participation from Founders Fund, Unilever Ventures, Honeywell Ventures, and WIND Ventures.
The company intends to use the funds to expand its development team.
Founded in 2016 by Will Glaser, CEO, Grabango is a provider of checkout-free technology for large-scale store chains. The system accurately processes millions of simultaneous transactions, places no limits on who can enter the store, what can be sold there, or how the shelving is configured.
To date, Grabango has signed five retail partners, each over $1 billion in revenue, including a global top-10 grocer and a Fortune-25 multinational. Multi-store deployments are underway at several. The company has filed 38 patents.
Contacts
Elizabeth Hoang
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281-818-3689