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Standard Cognition
Segments:
Automated Checkout
Product stage:
Early

Standard Cognition (‘Standard’) specializes in autonomous checkout solutions for brick-and-mortar stores. Customers log in with their phones as they enter the store; once they finish shopping, they can simply leave, and a receipt is generated by email. The company uses ceiling-mounted cameras and machine learning to identify items. It does not utilize shelf scanning or any other sensory equipment. It brands this as its competitive advantage.

In 2019, the company opened its first cashierless store—roughly 1,900 square feet (0.8x the average convenience store size)—in San Francisco. The store is used mainly to showcase the technology, which it sells to retailers. Retailers can deploy the system by buying cameras and computers from Standard Cognition and paying a monthly service fee based on store size, the number of items in the store, and product changes. It also offers two other products—Standard Analytics, which allows retailers to analyze customer choices to better understand e-commerce data, and Standard Security, a loss-prevention system to address violence, theft, etc.

The company acquired popular retail cashierless startups Checkout Technologies, an Italian developer of artificial intelligence (AI) technologies for frictionless retail checkout; Deep Magic, a US-based startup that also focuses on similar computer vision technologies; and ThirdEye Labs, a UK-based computer vision startup focused on retail tech (particularly theft detection).

Standard partnered with Circle K to retrofit a convenience store in August 2020 and launched a cashier-less convenience store in North Carolina. It also partnered with Chartwells in 2020 to integrate its checkout-free technology into stores located in the US and Canada. In February 2021, the company stated plans to deploy its automated checkout technology in more than 50,000 stores over the next five years, with hundreds to be deployed in 2021.

Automated Stores

Automated Stores

Key stats
Featured companies
26
Total funding (USD)
2 Bn
Total addressable market (USD)
8 Bn
Key competitors
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Company Brief

HQ location:965 Mission Street Floor 7 San Francisco CA USA
Founded year:2017
Employees:101-250
Total Funding:USD 238.7 million

Funding

Investors

Funding data are powered by Crunchbase
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