Zippin, a checkout-free technology startup, announced that it raised $30 million in Series B funding and has accumulated over $45 million in funding to date.
Series B funding has come from several companies, including OurCrowd, Maven Ventures, Evolv Ventures and SAP. Zippin stated that it intends to use the funding to scale its checkout-free technology for use in tens of thousands of retail locations by 2025. The startup already has a number of customers, including Aramark Corporation, Compass Group and Lawson.
"As retailers realize that frictionless checkout-free technology is also contactless by design, they see a great opportunity to kill two birds with one stone,' said Krishna Motukuri, the co-founder and CEO of Zippin.
Image Credit: Zippin
Why This Trend Is Growing
- Checkout-free Technology
- Zippin's successful funding proves that checkout-free technology is an emerging trend with high potential for innovation in revolutionizing in-store retail experiences.
- Contactless Payment
- Zippin's checkout-free technology also offers a great opportunity for retailers to implement contactless payment solutions, a trend that has become increasingly important during the COVID-19 pandemic.
- Frictionless Shopping
- Zippin's technology is part of a larger trend towards streamlining the shopping experience through technology, creating opportunities for innovation in the retail industry.
Industries Being Reshaped
- Retail
- Zippin's checkout-free technology has immediate disruptive potential in the retail industry, as it offers a novel approach to the in-store shopping experience.
- Food Service
- Food service companies like Aramark Corporation and Compass Group are finding value in Zippin's technology for streamlining checkout and potentially increasing efficiency.
- Enterprise Software
- Zippin's partnership with SAP proves that there is a market for enterprise software solutions that optimize the retail experience with innovative technology.
