BGF Retail invests 12.3 billion won in U.S. autonomous checkout technology startups

BGF Retail has invested 12.3 billion won in Standard Cognition, a US autonomous checkout technology startup.

According to the quarterly report of BGF Retail on the 18th, it acquired 247,838 shares of Standard Cognition conversion priority stock for 12.271 billion won. This is equivalent to 0.97% of the Standard Cognition stake.

Standard Cognition has a technology that enables automatic payment in unmanned stores through artificial intelligence (AI) based computer vision solutions.

This year, it attracted $ 150 million Series C investment from Softbank Vision Fund 2, and SK Networks also invested $ 25 million.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com