Grabango Raises $39M in Series B Funding
- Grabango, a Berkeley, Calif.-based provider of checkout-free technology for existing grocery and convenience stores, raised $39m in Series B funding
- The round was led by Commerce Ventures with participation from Founders Fund, Unilever Ventures, Honeywell Ventures, and WIND Ventures
- The company intends to use the funds to expand its development team
- The company is a provider of checkout-free technology for large-scale store chains
- The system accurately processes millions of simultaneous transactions, places no limits on who can enter the store
- To date, the company has signed five retail partners, each over $1 billion in revenue, including a global top-10 grocer and a Fortune-25 multinational
