Grabango — Leveraging Computer Vision to Deliver Enterprise Class Check-out Free Technology for Existing Stores

Portfolio Company News | January 25, 2019

We are excited to be partnering with the team at Grabango on their mission to reinvent in-store commerce — eliminating checkout lines and saving people time. Led by world-class technologist and entrepreneur Will Glaser, Grabango has built commercial relationships with some of the nation’s largest retailers. The solution is enterprise-grade, built for a checkout-free shopping experience for existing stores.

Photo by NeONBRAND on Unsplash

Like all industries, the retail sector faces challenges, but provides a defensible opportunity for computer vision, with self-sourced, clean data, and 100% image coverage from the outset. Unlike the varied visual challenges encountered by driverless cars in the real world, grocery stores offer an ideal environment with consistent lighting. The accuracy required for retail is lower than self-driving cars, and errors cost pennies, not lives.

In Propel’s thesis around computer vision in financial services Computer Vision — The Impact on Financial Services, researched and widely shared in 2017, we wrote:

The digitization of the world pushed forward by computer vision, creates enormous opportunities in the financial services ecosystem. The impact is material for insurance, capital markets, commerce, and banking, however, the role of computer vision has a larger economic impact, saving businesses and consumers money, and making processes more efficient. We anticipate more opportunities for computer vision in financial services and look forward to finding additional investments in the space.

If you are a retailer or have an interest in working at Grabango, please reach out so we can explore opportunities to work together.

— Ryan Gilbert and David Mort

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