Caper, an AI-powered shopping cart which aims to foster the grab-and-go retail experience, has collected $10m in its Series A.
Lux Capital led the funding round with contributions also coming from Caper’s seed investors First Round Capital, Y Combinator, Hardware Club, Sidekick Fund, and FundersClub.
Other contributions to the round came from Red Apple Group, a New York supermarket chain, as well as other unnamed strategic investors.
Funds from the round are earmarked for team expansion and the deployment of launches in new retailers.
Unlike other grab-and-go checkouts which use cameras and sensors across the entire store, Caper’s automated checkout service is leveraging AI shopping carts with installed sensors and computer vision.
The shopping cart comes with an attached display where a customer scans an item’s barcode and puts it into the cart. When they are finished shopping, they simply pay on the cart’s terminal and then leave.
Its services are used in grocery chains across North America, and Caper has plans to deploy more than 1,000 Caper carts in the coming year.
Caper founder and CEO Lindon Gao said, “Automated checkout will redefine the future landscape of retail and commerce. Caper not only streamlines checkout but also, through its screens on the cart, interfaces with shoppers to deliver details of products, recipes, and tailored recommendations as they shop. We’re excited to be at the forefront of bringing enriched retail experiences to shoppers and practical ROIs to retailers.”
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