# Mashgin

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

- Industry: Software
- Headquarters: Palo Alto, US
- Website: www.mashgin.com
- Total disclosed funding: $71M
- Latest round: Series B (May 9, 2022)
- Investors on record: 4

## About

Mashgin, Inc. develops innovative computer-vision technology that streamlines self-checkout experiences across various consumer sectors, including retail, healthcare, and education facilities, to enhance transaction efficiency.Founded in 2014 and headquartered in Palo Alto, US, Mashgin, Inc. specializes in AI-powered self-checkout systems. The founders, Abhinai Srivastava and Mukul Dhankhar, previously founded other companies. The company has raised a total of USD 62.50 mn, with its most recent funding round being Series B in May 2022, led by New Enterprise Associates, alongside participation from Matrix Partners. The latest funding round has equaled the total amount raised since inception, reflecting strong interest from investors. The company has completed 5 deals to date, with its current valuation at USD 1,376.015 mn.Mashgin specializes in advanced computer-vision technology that facilitates a fast, efficient self-checkout experience for various consumer sectors, including convenience stores, stadiums, higher education institutions, healthcare facilities, and ski resorts. Their flagship product offers an AI-powered checkout solution that eliminates traditional lines, enabling users to complete transactions in as little as 7 seconds. This technology enhances customer satisfaction by significantly reducing wait times and allowing staff to focus more on service quality rather than transaction processing. The company serves a diverse clientele, including retailers and service providers, enhancing operational efficiencies and driving revenue growth. Mashgin's products are deployed across multiple geographical markets, including North America, with a wide customer base encompassing universities, sports facilities, healthcare institutions, and convenience stores.Mashgin generates revenue primarily through partnerships with various retail and service providers who implement their self-checkout systems. The transaction model is based on the adoption of their AI-powered kiosks, which streamline the payment process across diverse environments. Clients typically enter into agreements involving the installation and maintenance of Mashgin kiosks, alongside ongoing service agreements for software updates and customer support. The company’s offerings aim to provide measurable benefits such as increased sales and enhanced customer satisfaction, resulting in financial gains for the clients. While specific pricing details for individual services or subscription plans are not disclosed, the transaction structure reflects a B2B model, focusing on direct partnerships with businesses seeking to improve operational efficiency and customer experience through technology.In May 2022, Mashgin, Inc. raised USD 62.5 mn in Series B funding, which will be utilized for team growth, establishing startup branches, and expanding globally. The company aims to design and launch new products that enhance their existing technology offerings, although specific release dates are not mentioned. There are plans for expanding into international markets, with targeted regions for growth, although specific locations have not been disclosed.

## Funding rounds

- Series B, May 9, 2022, $63M — Matrix Partners, New Enterprise Associates
- Series A, Nov 28, 2017, $8.2M — Matrix Partners, TenOneTen Ventures
- Seed, Mar 25, 2015, $0.1M — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series A, Series B
- TenOneTen Ventures (https://capitalatlas.ai/funds/tenoneten-ventures) — Series A
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series B