Mashgin

Mashgin develops self-checkout kiosks powered by computer vision and machine learning technologies. The kiosks are built with multiple cameras enabling it to build a three-dimensional understanding of items placed on the self-checkout tray. The customers can place their purchases on the tray and complete their purchases using an attached POS device. Mashgin’s technology can reportedly recognize multiple items in less than a second and has the ability to recognize non-packaged items such as produce and prepared food. 

Key customers and partnerships

The company announced that its touchless checkout kiosks had processed over 31 million transactions as of March 2022 while surpassing more than USD 260 million in global sales transactions. As of March 2024, Mashgin’s touchless checkout kiosks were available across 3,500 locations, with deployments across cafeterias, sports arenas, micro markets, airports, and universities (over 30 universities as of February 2024). Mashgin’s key customers include Major League Baseball (June 2019), Aramark (June 2019), HMSHost (July 2020), Delek US Holdings (August 2020), National Football League (January 2022), the global fuel retailer bp (March 2022), the American hospitality company Alterra Mountain Company ( January 2023 ) and Boise State University ( August 2023 ). 

In February 2023, Mashgin partnered with Shift4, a provider of integrated payments and commerce technology to facilitate the integration of Shift4's payment processing solutions into self-checkout solutions. In April 2023, Mashgin partnered with PDI Technologies , a developer of software solutions, to integrate its self-checkout system with PDI Technologies’ retailer accounting and reporting features, streamlining data manipulation and accounting reconciliation.

 In January 2024, Mashgin partnered with Keyo, a startup specializing in palm-scanning payment technology, to launch an AI-powered palm scanner solution for self-checkouts. The partnership integrates Mashgin’s AI-powered self-checkout technology with Keyo’s Wave palm technology to enable customers to complete transactions with a contactless scan of their palm. 

Funding and financials

In May 2022, Mashgin raised USD 62.5 million in a Series B funding round led by global venture capital firm New Enterprise Associates. This elevated its valuation to USD 1.5 billion, raising it to unicorn status.