Standard Cognition

Standard AI, founded in 2017, specializes in autonomous checkout technology for brick-and-mortar retailers. Their platform utilizes artificial intelligence and computer vision to enable customers to shop and pay without traditional checkout processes, integrating seamlessly into existing store infrastructures. This system enhances the shopping experience by reducing wait times and streamlining operations.

The company has attracted significant investment from a diverse group of investors. In February 2021, Standard AI raised $150 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from existing investors such as CRV, Initialized Capital, EQT Ventures, and TI Platform Management. This investment brought the company’s valuation to $1 billion.

Standard AI’s uniqueness lies in its ability to retrofit existing retail spaces with autonomous checkout capabilities without requiring major store overhauls. By leveraging AI and computer vision, the company addresses challenges such as long checkout lines and labor-intensive processes, thereby enhancing operational efficiency and customer satisfaction.

In the artificial intelligence landscape, Standard AI operates within the category of AI-driven retail automation. Their technology applies machine learning and computer vision to real-time data, facilitating seamless and efficient retail transactions.

For more information, please visit standard.ai.

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