Grabango, which provides checkout-free tech for grocery and convenience stores, has raised $39 million in Series B funding, according to a press release.
Additionally, Grabango has been deploying in new stores, signing five retail partners each worth more than $1 billion in revenue, the release stated.
The company has filed several patents, including ones that came before the knowledge of checkout-free as an option, according to the release.
With the new capital, Grabango plans to expand its development team as it has seen an uptick in demand from chains serving in grocery services, the release stated.
“We pride ourselves on the accuracy of the system, and the ease with which it operates in the dynamic environment of a modern store,” said Grabango CEO Will Glaser in the release. “Wasting time in lines has always bothered me, and now we no longer have to endure it.”
Grabango allows customers to shop as they usually do, and then skip the checkout line by scanning a code in the company’s app, according to the release. Grabango uses computer vision technology to identify items as they’re picked up.
“Grabango delivers a seamless shopping experience that is becoming the global standard,” the release stated.
The company also plans to launch more checkout-free technology into more stores, including into four Giant Eagle GetGo stores in the Pittsburgh area by the end of the year, according to the release.
PYMNTS reported that the checkout-free phenomenon is predicated on the belief that quicker, streamlined payments will be indicative of future shopping, as one negative aspect of customers’ experiences at the supermarket is long checkout lines.
Payment solutions providers have been looking at shortening the lines by making transactions faster. A reduction in the use of cash may also play a part in speeding up the checkout process.
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