Trigo, an Israeli startup developing cashierless shopping technology to rival that of Amazon.com Inc., raised $60 million to fund growth.
The funding round was led by 83North and includes existing investors such as Red Dot Capital Partners and Tesco Plc, which is working with Trigo on opening its first such store, according to a statement. Trigo will use the new funds to grow its research and development division and expand into other geographic markets.
Trigo is also working with some of Europe’s biggest retailers to open more stores next year, Chief Executive Officer Michael Gabay said in an interview. He declined to elaborate further.
Source: Bloomberg
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