# Grabango Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/grabango

- Industry: Software
- Headquarters: Berkeley, US
- Website: www.grabango.com
- Total disclosed funding: $78M
- Latest round: Series B (Mar 29, 2021)
- Investors on record: 15

## About

Grabango Co. is a US-based technology firm specializing in automated checkout solutions that enhance the retail experience by eliminating traditional checkout lines through advanced AI and computer vision technology.Founded in 2016 and headquartered in Berkeley, US, Grabango Co. provides automated checkout systems for grocery and convenience retailers. The company has secured a total of 6 investment deals, including its latest funding round, Series B, which raised USD 55.00 mn led by Commerce Ventures. The total amount raised to date is USD 55.00 mn, with a current company valuation of USD 159.32 mn. Will Glaser serves as the founder, while Bob Ma is currently the CEO.Grabango specializes in advanced automated checkout solutions designed to enhance the retail experience for both consumers and retailers. Their core product leverages artificial intelligence and computer vision to enable frictionless purchasing in retail environments, eliminating the need for traditional checkout lines. This technology is aimed primarily at grocery stores and convenience retailers, allowing customers to shop and leave without having to manually scan items or wait in line. The end users of Grabango's services include both consumers looking for expedited shopping experiences and retailers seeking to increase throughput and improve customer satisfaction. The company's solutions have been deployed in various urban markets across the United States, positioning them strategically in high-traffic areas where convenience and efficiency are paramount.Grabango's revenue model is primarily based on partnerships with retailers and grocery chains that integrate their automated checkout systems. The company typically structures transactions through B2B arrangements, where retailers pay for the installation and maintenance of Grabango's technology within their stores. Revenue is generated through a combination of upfront fees and ongoing service agreements, which may include subscription-based pricing for software updates and technical support. This aligns with their flagship product, the automated checkout system, which is designed to enhance operational efficiencies for grocery and convenience retailers. The integration of Grabango's technology not only supports retailers in improving the customer experience but also positions them to capture a larger share of the growing demand for contactless shopping solutions.Grabango Co. has plans to further innovate its automated checkout technology, with new products aimed at improving user experience expected to be launched in the near future. The company is also targeting expansion into additional urban markets across the United States, although specific locations and timelines have not been disclosed. Recent funding from new investor Escondido Ventures will be utilized to support these initiatives, enhancing their product offerings and facilitating market expansion.

## Funding rounds

- Series B, Mar 29, 2021, $55M — Unilever Ventures, Founders Fund, Commerce Ventures, Honeywell Ventures, Rich Products Ventures, WIND Ventures
- Series A, Dec 21, 2018, $18M — Founders Fund, Ridge Ventures, Commerce Ventures, Propel, Abstract Ventures
- Seed, Mar 29, 2017, $5.3M — Founders Fund, Tuesday Capital, Accomplice, Thursday Capital, Comet Labs, Abstract Ventures, Vela Partners, Visary Capital

## Investors

- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Seed, Series A, Series B
- Tuesday Capital (https://capitalatlas.ai/funds/tuesday-capital) — Seed
- Accomplice (https://capitalatlas.ai/funds/accomplice) — Seed
- Thursday Capital — Seed
- Comet Labs (https://capitalatlas.ai/funds/comet-labs) — Seed
- Abstract Ventures (https://capitalatlas.ai/funds/abstract-ventures) — Seed, Series A
- Vela Partners (https://capitalatlas.ai/funds/vela-partners) — Seed
- Visary Capital (https://capitalatlas.ai/funds/visary-capital) — Seed
- Ridge Ventures (https://capitalatlas.ai/funds/ridge-ventures) — Series A
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Series A, Series B
- Propel (https://capitalatlas.ai/funds/propel) — Series A
- Unilever Ventures (https://capitalatlas.ai/funds/unilever-ventures) — Series B
- Honeywell Ventures (https://capitalatlas.ai/funds/honeywell-ventures) — Series B
- Rich Products Ventures (https://capitalatlas.ai/funds/rich-products-ventures) — Series B
- WIND Ventures (https://capitalatlas.ai/funds/wind-ventures) — Series B