Cashierless Store | Pixr8 News

Cashierless Store Operator Standard Cognition Acquires DeepMagic

12Oct By AdityaNo Comments

ACQUISITION

Cashierless Store Operator Standard Cognition Acquires DeepMagic

SAN FRANCISCO, Oct. 10, 2019-- Standard Cognition has acquired New York based startup DeepMagic. DeepMagic was founded by Bernd Schoner and Davi Geiger. Schoner will join Standard in a consulting capacity, to help manage the integration of DeepMagic’s technology into Standard’s platform. Standard Cognition was one of the first startups in the autonomous checkout space, and first to open a cashierless store in San Francisco. DeepMagic has developed strong computer vision technology that can identify individual items with outstanding accuracy and has deployed commercial systems in the US and Europe. The company also holds key patents dating back to 2016 covering important elements of autonomous checkout technology. “Both Standard and DeepMagic took a computer-vision only appr...

Cashierless Store Startup raises $35 million

9Aug By AdityaNo Comments

FUNDING

Cashierless Store Startup raises $35 million

SAN FRANCISCO, Calif., July 25, 2019-- Standard Cognition, which is building the next interface of retail, announced today that it has raised a $35M Series B funding round led by the EQT Ventures fund (“EQT Ventures”) with participation from existing investors Initialized Capital, CRV and Y Combinator. This brings Standard’s total funding to date to more than $86M, and its post-money valuation to $535M more than a 2x increase since the company raised its Series A in Nov 2018. The funding enables Standard to continue to focus on making its early customers in the U.S. and Japan successful while growing the team and expanding both domestically and internationally. Jordan Fisher, Co-founder and CEO of Standard, said, “We really hit it off with the EQT Ventures team, and we’re incredi...

Amazon Launches Amazon Go Checkout-free Store in Chicago

17Sep By Gauri SinghNo Comments

USA

Amazon Launches Amazon Go Checkout-free Store in Chicago

The retail major Amazon is all set to launch the next Amazon Go checkout-free store in Chicago. The new cashierless store will start operating today which is the first to open outside of Seattle. With this opening, the store will make use of proprietary technology made up of hundreds of cameras and sensors to see what customers have taken. The Just Walk Out tech allows customers to swipe in with their Amazon Go app, pick up what they want and walk out. When they leave, the items are automatically charged to the credit card on the account, without the need to talk to a cashier or swipe a barcode. This is really a convenient and time-saving method of shopping. With this move, the customers now won’t have to stand in the queue and wait for their turn to pay for their items. This hig...

27Jan By NitishNo Comments

CHINA

Tencent Launched China’s Cashierless Store in Shanghai

Chinese Internet giant Tencent has opened its first cashier-less pop-up store in Shanghai in a move to tap into the country's promising unmanned retail industry. At the 300-square meter shop named We Life, shoppers can use WeChat Pay, the proprietary e-wallet of messenger app WeChat, to buy items without paying cash, swiping a card, or interacting with a single human being, according to state-run China Daily. Customers can use a phone to scan a quick response code at the gate, which enables user identification and automatic payment. All products are equipped with radio-frequency identification tags that use magnetic chips to store information such as price and inventory. The store will be open until February 4 and showcases Tencent's payment capabilities in the realm of physica...