Mashgin, a maker of touchless self-checkout systems, announced on Monday a $62.5 million Series B round led by global venture capital firm NEA. The funding raised Mashgin’s valuation to $1.5 billion, giving the company unicorn status, according to the press release.
Mashgin, which currently partners with convenience stores, cafeterias, hospitals and sports arenas, said it will use the funding to build out its team, speed up expansion and scale globally.
Convenience stores and grocers are stepping up their efforts to reduce friction at checkout and give shoppers faster and easier ways to pay.
Source: Payments Dive