Mashgin Raises $62.5M in Series B Funding at a $1.5 Billion Valuation

Mashgin, a Palo Alto, Ca$62.5m raised for a touchless, AI-powered self-checkout system that is completely touchless and powered by computer vision and AI. in Series BFunding at a$1.5 billion post money valuation

Theround, which brings Mashgin’s total funding to date to $74.7m, was led by NEA, with participation from Matrix Partners.

TheThe company plans to use the funds for expansion, acceleration and scaling internationally. 

Founded in2013 and led By Chief Technology Officer Mukul DhankarCEO Abhinai Srivastava, MashginProvides aSelf-checkout system powered AI/computer vision that allows consumers instant gratification and retailers to generate revenue. MashginCurrently, kiosks are being deployed in more than 800 locations, including convenience stores, iconic sports stadiums, arenas and entertainment venues, airports, universities, corporate and hospital cafeterias.  There’s no need to look for and scan bar codes: customers place their items on the company’s tray, and pay electronically.

MashginWith more than 35 million transactions, and $310 millions in annual revenue, is already profitable inTo date, transactions have been conducted through the platform. CustomersInclude ampm DelekHMS Host,Arrowhead Stadium in Kansas CitySAP Center in San JoseAnd Madison Square Garden and Citi Field in New York City, CorporateAnd hospital cafes inPartnership with Aramark, Compass Group and Sodexo.

FinSMEs

09/05/2022

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