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
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 