Dive Brief:
- San Diego, California-based startup Accel Robotics has raised $30 million in Series A funding, the company announced in a press release. SoftBank Group led the round.
- Accel Robotics provides artificial intelligence and computer vision for checkout-free stores, and has already begun deploying its technology at grocery stores, convenience stores and quick service restaurants in North America and Japan, the company said.
- The new funding will help Accel expand its operations globally, increase manufacturing capacity and streamline deployment.
Dive Insight:
Similar to other checkout-free technology on the market, Accel Robotics’ camera-based system makes it possible for shoppers to enter a store, grab their items and walk out. They can get their receipt via text message or a mobile app.
For its retail clientele, Accel Robotics offers live inventory management and shopper analytics to help companies improve the in-store experience.
The company is a smaller name among competitors like Zippin, Standard Cognition, Trigo Vision and Grabango. The checkout-free tech space is beginning to heat up, though, as more retailers look to create their own Amazon Go-like experience. From sports stadiums to regional grocer Giant Eagle and international grocers Tesco and Ahold Delhaize, retailers across the globe are looking to provide a frictionless checkout experience.
Accel is tight-lipped about the retailers it’s currently working with, but more funding in the bank means the technology will soon be deployed more widely. The company, which was founded in 2015, had raised $7 million in early stage funding prior to the latest Series A.
"We are excited to partner with the team at SoftBank Group to help scale our frictionless commerce platform with retailers and brands around the world," said Brandon Maseda, CEO of Accel Robotics, in a statement.
The company has offices in San Diego, California; Tokyo; and Buenos Aires, Argentina, and is currently hiring for multiple positions.
