Introducing cashierless checkout in more retail outlets, supported by a $12M investment by Zippin.

In the evolving landscape of retail, a surge of interest is being directed towards checkout-free technologies. One such company, Zippin, has recently secured $12 million in a Series A funding round, led by Evolv Ventures. This investment will enable Zippin to expand its technology to more locations within grocery stores, convenience chains, sports facilities, airports, and other retailers in the coming months.

The funding round was not limited to Evolv Ventures alone. It was also backed by the Kraft Heinz-backed venture capital fund. This investment comes at a time when retailers are re-examining daily operations, including topics like shrink and pricing.

Zippin's CEO, Krishna Motukuri, stated that the company aims to remove friction from bringing its checkout-free experience to retail stores. The company's ambition is clear, as it has already signed an 18-month deal with Brazil's largest retailer, Lojas Americanas S.A., to introduce its technology in stores across the country.

The preference for self-checkout technologies is evident, with nearly three-fourths of shoppers expressing a preference for such technologies over interacting with store staffers, according to a SOTI survey. However, it seems that only one in three consumers have seen the latest technologies deployed in stores, according to a report from A.T Kearney.

Zippin is not alone in the checkout-free technology market. Companies like Amazon (Amazon Go), Grabango, Standard Cognition, and AiFi are also vying for a share. Recently, Standard Cognition raised $55 million in early 2024, AiFi secured $35 million in 2023, and Grabango received $20 million in late 2023 funding rounds.

Another player in the market, Accel Robotics, has already been introduced in grocery stores, convenience stores, and quick-service restaurants. Accel Robotics recently secured $30 million in Series A funding led by SoftBank Group.

Zippin has made a significant stride with its recent introduction of the Zippin Cube, a "fully functional autonomous microstore" ranging between 300 and 500 square feet, inside the Sacramento Kings' Golden 1 Center.

As the retail industry continues to evolve, it's clear that checkout-free technologies are becoming an increasingly important part of the equation. With the recent funding, Zippin is poised to play a significant role in this transformation. The cash infusion will be used by Zippin to invest in product innovation, hire additional staff for its technical team, and expand sales and partnership efforts.