Checkout-Free AI Shopping System
Standard Cognition, whose goal is to eliminate the hassle of retail checkout by removing it entirely, has raised a $5-million seed round to accelerate its go-to-market for the first commercially available checkout-free AI shopping system. Standard Cognition’s solution is an artificial intelligence-based system that lets consumers shop and pay without scanning or stopping to check out. It’s the first such solution platform available to any retailer, according to the company. Standard Cognition plans to use the seed round funds to double its engineering team by the end of the year and launch with its first U.S. retailer in early 2018. The company says it is already in talks with many US retailers about pilots.