Kraft Heinz fund invests $12 m to pay-down start-up Zippin

Zippin, a start-up focused on the unpaid checkouts of brick-and-mortar retail stores, received $12 million in the first round of financing led by Kraft Heinz’s $100 million venture venture, according tomedia. Zippin is known to create a shopping experience without checkout by combining computer vision, artificial intelligence and sensor fusion technology.

Kraft Heinz fund invests $12 m to pay-down start-up Zippin

The company currently has four separate public stores and several private stores worldwide. More recently, it has launched its first modular prefabricated “box store”, zippin Cube, which allows retailers to set up a full-featured, autonomous mini-store with in a month, measuring 500 square feet or less.

Zippin is Evolv’s fourth investment since its launch last year. The other three start-ups in the fund’s portfolio are Grub Market, New Culture and Flowhub.

Zippin will use the money to speed up new stores for grocery stores, convenience chains and stadiums and airports.

Kraft Heinz says the advent of checkout-free shopping provides a global opportunity for consumer-goods companies to approach consumers. This technology provides better-quality, data-driven insights into shopper behavior and preferences.

Smriti Jayaraman, head of Evolv Ventures, said: “We are delighted to be joining Zippin as these new models are critical to the transformation of the current retail sector. “

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