Standard AI

Consumer & Lifestyle

Founded: 2017

Last Round Valuation: $1B

Standard AI, formerly known as Standard Cognition, revolutionizes brick-and-mortar retail with its advanced AI-based computer vision platform, enabling autonomous checkout. Founded in 2017 by Brandon Ogle, Daniel Fischetti, David Valdman, John Novak, Jordan Fisher, Michael Suswal, and TJ Lutz, the company is headquartered in San Francisco, CA.

Standard AI Overview:

Standard AI, formerly known as Standard Cognition, is a cutting-edge technology company that specializes in enabling autonomous checkout for brick-and-mortar retailers. Founded in 2017 and headquartered in San Francisco, California, Standard AI has developed a modern AI-powered computer vision platform that revolutionizes the shopping experience by eliminating the need for traditional checkout processes.

At its core, Standard AI aims to transform the retail industry by providing a seamless and frictionless shopping experience. Their advanced computer vision technology leverages artificial intelligence algorithms to enable autonomous checkout, allowing customers to enter a store, pick up items, and simply walk out without having to go through a traditional cashier or self-checkout process.

The technology behind Standard AI's platform is sophisticated and precise. It utilizes a network of cameras and sensors placed throughout the store to track and monitor the movements of customers and the items they select. By combining this visual data with deep learning algorithms, the system can accurately identify and track products, ensuring a seamless and accurate checkout process.

One of the key advantages of Standard AI's approach is its ability to handle complex scenarios, such as multiple customers shopping simultaneously or items being returned to shelves. The system is designed to handle these situations with ease, providing accurate item tracking and ensuring a smooth shopping experience for all customers.

In addition to its core autonomous checkout technology, Standard AI offers a range of features and services to enhance the retail experience. These include real-time inventory management, personalized recommendations, and detailed analytics to help retailers optimize their operations and better understand customer behavior.

Standard AI has garnered significant recognition and support from investors and partners, reflecting the credibility and potential of their technology. The company has received funding from prominent venture capital firms and strategic investors who recognize the transformative impact of autonomous checkout on the retail industry.

By implementing Standard AI's computer vision platform, retailers can reduce operational costs, increase efficiency, and improve customer satisfaction. The technology not only streamlines the checkout process but also provides valuable insights into customer behavior, allowing retailers to make data-driven decisions and enhance their overall retail strategy.

With its focus on revolutionizing the retail industry through autonomous checkout, Standard AI is at the forefront of innovation in the retail technology space. By combining artificial intelligence and computer vision, the company is paving the way for a future where checkout lines become a thing of the past, offering a seamless and frictionless shopping experience for customers and transforming the way retailers operate.

Founders:

  • Brandon Ogle

  • Daniel Fischetti

  • David Valdman

  • John Novak

  • Jordan Fisher

  • Michael Suswal

  • TJ Lutz

Top Investors:

  • CRV

  • Capital

  • Draper Associates

  • EQT Ventures

  • Initialized Capital

  • SK Networks

  • SoftBank

  • TI Platform Management

  • The Garage Syndicate

  • Y Combinator

Funding History:


Date Share Type Amount Raised Raised to Date Issue Price Post Money Valuation Key Investors
Jun 2021 Series C $178.27MM $264.42MM $40.35 $1B SoftBank, CRV, EQT Ventures
Jul 2019 Series B $35.04MM $86.15MM $26.88 $535MM EQT Ventures, Initialized Capital, CRV
Nov 2018 Series A-8 $5.5MM $5.5MM $10.32 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A $40MM $40MM $12.90 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A-1 $354.99K $354.99K $0.68 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A-2 $445.99K $445.99K $0.73 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A-3 $25K $25K $0.82 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A-4 $100K $100K $0.81 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A-6 $1.07MM $1.07MM $1.63 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A-5 $199.99K $199.99K $1.54 $389.48MM Capital, CRV, Y Combinator
Nov 2018 Series A-7 $3.41MM $3.41MM $1.82 $389.48MM Capital, CRV, Y Combinator

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