Accel Robotics’ camera-based AI and computer vision system allows any shopper to enter a store, grab the items they want, walk out and receive a receipt via text message or app notification.
Isabelle Gustafson
December 6, 2019
CSDecisions
Accel Robotics, a technology startup in San Diego has raised $30 million from investors to continue building out its software for cashierless stores, according to Tech Xplore.
Accel Robotics enables grab-and-go, checkout-free shopping experiences across existing and emerging store formats. The company’s camera-based artificial intelligence (AI) and computer vision system allows any shopper to enter a store, grab the items they want, walk out and receive a receipt via text message or app notification.
Accel Robotics plans to create stores from scratch — and partner with existing retailers — to help bring small-format stores to locations that couldn’t accommodate larger buildings, such as university campuses, corporate offices, military bases, airports and other travel hubs.
The company already has its technology deployed in North America and Japan, including at restaurants and drug store chains.
The funding came in a round led by Japanese funding giant SoftBank, with further participation from New Ground Ventures, Toyo Kanetsu Corporate Venture Investment Partnership and RevTech Ventures.
It will allow Accel Robotics to accelerate its expansion worldwide by growing operations, increasing manufacturing capacity and streamlining its expanding deployment pipeline. The $30 million of financing builds on $7 million in previous funding, bringing the company’s total capital raised to $37 million.
“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 Accel Robotics CEO Brandon Maseda. �
Subscribe to our free mailing list and always be the first to receive the latest news and updates.