Checkout-Less Retail Platform Wins New Funding

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San Francisco based startup Standard Cognition announced it raised new funding to launch its retail point of sale recognition platform.

The startup announced it has raised $35 million in Series B funding from EQT Ventures which lead the funding in this round. Supporting investors in this round include Y Combinator, CRV Ventures, and Initialized Capital.

The startup has raised $86 million since its launch.

Standard Cognition wants to simplify the practice of paying for goods at the checkout counter…by getting rid of the checkout counter. Their AI based system allows brick and mortar retail consumers to shop at participating stores and pay for their goods without scanning or waiting in lines to checkout. Several retailers have already signed up for the platform.