Zippin plans to use the funds to deploy its tech across tens of thousands of stores by 2025. Here are the top-line bullets you need to know.
Zippin, a checkout-free tech provider, has raised $30M in a Series B. The round drew participation from SAP, OurCrowd, and Maven Ventures, among others.
How’s the company performing?
- California-based Zippin leverages AI, machine learning, overhead cameras, and smart shelf sensors to provide a cashier-less checkout experience to its shoppers.
- The company has inked global partnerships with Aramark, Sberbank, Compass Group, Americanas, and the Sacramento Kings’ Golden 1 Center.
- Zippin powers checkout-free operations in 4 continents across a variety of businesses, including grocery and convenience stores, hotels, sports stadiums, and residential buildings.
Why does the market matter?
- The global AI-powered checkout market is projected to grow at a CAGR of 37.2% and reach a value of $1.18B by 2027, according to The Insight Partners.
- Increasing demand for contactless technology amid the pandemic, rising adoption of AI and sensors, and the desire to reduce labor costs have contributed to industry growth.