TEL AVIV, Israel, November 13, 2018 /PRNewswire/ --
Israel's leading supermarket chain to deploy Trigo Vision' s retail automation platform
Trigo Vision, a computer vision startup reshaping the retail experience, and Shufersal, Israel's largest supermarket chain, today announced that it had signed an agreement to install Trigo Vision's advanced automated retail platform across its 272 stores countrywide. Shufersal will be the first supermarket chain globally to offer customers a completely seamless shopping experience akin to "Amazon Go".
Trigo Vision emerged from stealth in July with a seed round of $7 million funding by UK-Israel based Hetz Ventures and Vertex Ventures Israel. Leveraging world class AI, Trigo Vision combines a highly sophisticated, ceiling-based camera network with machine vision algorithms to eliminate the need for a checkout process. The cameras identify and capture customers' shopping items with exceptional levels of accuracy during the in-store journey.
"We are very excited to begin the process of development and embedding of Trigo Vision's retail automation platform in order to offer our customers a completely seamless checkout experience," said Itzik Abercohen, CEO of Shufersal. "Customer satisfaction is one of Shufersal's main guiding principles with technology playing a big role. We believe our cooperation with Trigo will transform the shopping experience and will minimize our customers' friction points in the stores. This venture will also drive efficiency and minimize costs across our operation. Its scalability and flexibility also means that we can roll out this technology across all of our stores, whether small express shops or larger hypermarkets."
"Shufersal is a clear market leader in adopting innovation and bringing new retail experiences to its customers. They immediately recognized the potential of our platform and we're delighted to be collaborating with them, propelling the forefront of the next retail era here in Israel," said Michael Gabay, CEO and co-founder of Trigo Vision. "Moreover, this deal will accelerate our development in a real store environment with real customers rather than trialling our technology in a concept store or lab development. We strongly believe this is the right approach to develop cutting-edge technology that brings value to customers."
Developed by leading AI and algorithmics experts, Trigo Vision's founders have gained extensive experience working on a multitude of complex projects for Israel's military intelligence. The company's highly advanced, patent-pending computer vision technology necessitates significantly fewer cameras compared to other solutions on the market today. Coupled with a unique data collection process, Trigo Vision provides extremely precise identification of products, underlining the company's competitive advantage. Complementing this, the company's platform offers retailers complete flexibility and scalability for easy and swift deployment into a store of any size, without requiring any type of change to its layout or structure. Their system is also GDPR-compliant and collects data anonymously without attaching personal identities to it.
About Trigo Vision
Trigo Vision is a computer vision startup reshaping the retail experience. Leveraging world class AI and algorithmics experts, the company's advanced retail automation platform identifies customers' shopping items with exceptional levels of accuracy, creating an entirely seamless checkout process. Trigo Vision's technology streamlines retail operations, prevents shoplifting, provides invaluable retail insights and presents opportunities for new levels of customer engagement within retail environments. Please visit trigovision.com for more info.
Shufersal, is the largest retail corporation in Israel. It is a public company whose shares are traded on the Tel Aviv Stock Exchange, and it is a constituent of the TA-35 Index. Shufersal operates a chain of grocery and superstores selling food and non-food products in various formats - discount stores, supermarkets and express stores - as well as an e-commerce site Shufersal Online (www.shufersal.co.il). Among these channels, the company generates annual revenues of 3 Billion dollars of which 12% come from online sales. Shufersal's private label products account for over 22% of total sales. As of 2017, Shufersal had 272 stores and 14,000 employees. In 2017 Shufersal acquired the drugstore chain New Pharm with its 63 locations across Israel. Shufersal's customer loyalty club has 1.97 million members, and Shufersal's credit card has 300,000 customers.
SOURCE Trigo Vision