Frictionless retail startup Trigo laying off 15% of team
Frictionless retail startup Trigo laying off 15% of team
The computer vision company that develops infrastructure for autonomous retail stores and retail analytics is cutting 30 jobs
Trigo, an Israel-based computer vision company that develops infrastructure for autonomous retail stores and retail analytics, is laying off 30 employees, accounting for 15% of its workforce, Calcalist has learned.
Trigo was founded in 2018 by brothers Michael (CEO) and Daniel (CTO) Gabay. It transforms existing supermarkets into fully autonomous digital stores where feeds from ceiling-mounted cameras and shelf sensors are analyzed to generate a “digital twin” of the store.
The company employs a total of around 200 people and the layoffs will take place across all its departments.
Trigo raised $100 million in October 2022 led by Singapore state investment firm Temasek Holdings and 83North. New strategic investors included SAP SE, with existing investors joining the round, including Hetz Ventures, Red Dot Capital Partners, Vertex Ventures, Viola, and supermarket giant REWE Group, one of the world’s leading retailers. The new funding took Trigo’s total amount raised to $204 million
Trigo told Calcalist in response, "The company continues to grow in the global retail sector. Our clients include some of the world's largest retail corporations that are currently undergoing the most significant digital transformation experienced by the industry. To sustain our leadership in innovation, we are expanding the deployment of cutting-edge technologies, specifically in computer vision and artificial intelligence, across our customer base and into various markets and business sectors. Trigo remains committed to hiring employees for expanding departments within the company. However, as part of the necessary changes for ongoing development and business focus, we are implementing adjustments, including in personnel."
Built on top of its core technological infrastructure, Trigo also offers retailers access to additional applications through its StoreOS store operating system, with which they can track inventory in real-time, minimize out-of-stock and expired items for in-store and online shopping, mitigate fraud, personalize marketing, and manage store and supply chain operations predictively.
Trigo’s solutions are currently deployed with some of the world’s leading grocery retailers, including Tesco PLC in the UK, ALDI Nord in The Netherlands, REWE Group in Berlin and Cologne, Netto Marken-Discount (also known as Netto) in Munich, Israel’s Shufersal (SAE), and Wakefern Food Corp., the largest retailer-owned cooperative in the U.S.
