Today: Apr 17, 2024

Trigo’s shakeup: 15% of team ousted as frictionless retail evolves.

3 months ago

TLDR:

  • Trigo, a computer vision startup that develops infrastructure for autonomous retail stores, is laying off 30 employees, accounting for 15% of its workforce.
  • The layoffs are being made across all departments of the company.
  • Trigo raised $100 million in funding in October 2022, bringing its total amount raised to $204 million.
  • The company’s technology allows existing supermarkets to be transformed into fully autonomous digital stores through the analysis of feeds from cameras and shelf sensors.

The Israeli startup Trigo is cutting 30 jobs, or 15% of its workforce, as it navigates the retail market. Trigo, which develops infrastructure for autonomous retail stores and retail analytics, uses computer vision technology to analyze feeds from ceiling-mounted cameras and shelf sensors, creating a “digital twin” of the store. The recent layoffs will impact all departments of the company, which currently employs around 200 people.

Trigo raised $100 million in funding in October 2022, led by Temase, a Singapore state investment firm, and 83North. The funding round included participation from strategic investors such as SAP SE and supermarket giant REWE Group. The new funding brought Trigo’s total amount raised to $204 million.

Despite the layoffs, Trigo remains committed to its growth plans in the retail sector. Its technology is currently deployed with major grocery retailers such as Tesco PLC, ALDI Nord, REWE Group, Shufersal, and Wakefern Food Corp. Trigo’s solutions allow retailers to track inventory in real-time, optimize stock levels, personalize marketing, and manage store and supply chain operations.

Trigo’s layoffs come as the company continues to expand its deployment of cutting-edge technologies, including computer vision and artificial intelligence, to its customer base. While some adjustments, including personnel changes, are being made, the company is focused on sustaining its leadership in innovation and hiring employees for expanding departments.