Accel Robotics receives US$30M funding for cashierless store tech
Accel Robotics, a cashierless store tech startup, has received US$30m in funding. SoftBank Group Corp was the leading funder and partners with Accel Robotics to enable checkout-free shopping experiences.
The new wave of funding builds upon its already US$7m acquired in previous funding. Now, the company's total capital is US$37m.
Accel's frictionless commerce platform provides retailers with technology to eliminate checkout lines, track inventory. It also generates shopper analytics. It does this through camera-based AI systems that allow customers to walk in, grab the item they need and walk out and receive their receipts electronically.
Developments already underway
Additionally, Accel Robotics said that its platform is already in the works to be set up in various grocery stores.
The San Diego based startup also added that it will deploy its first frictionless stores in leading grocery stores in North America and Japan.
This new Series A funding will allow Accel Robotics to expand its operations further.
“We are excited to partner with the team at SoftBank Group to help scale our frictionless commerce platform with retailers and brands around the world,” said Brandon Maseda, CEO, Accel Robotics.
Existing investors and partners of the startup include New Ground Ventures, Toyo Kanetsu Corporate Ventures Investment Partnership and RevTech Ventures.