Standard Cognition raises $35 million to bring cashierless experiences to more stores

A checkout-free future might be closer than you think, thanks to startups like Standard Cognition. The San Francisco-based company, whose patented platform uses cameras and algorithms to keep tabs on customers as they peruse store shelves, nabbed $40 million in series A funding last November and a partnership with Paltac in Japan that will see its autonomous checkout solution deployed in 3,000 stores. On the heels of this success, it's secured $35 million in a series B round led by the EQT Ventures fund, with participation from existing investors Initialized Capital, CRV, and Y Combinator. The newfound capital brings Standard Cognition's total raised to date to more than $86 million at a post-money valuation of $535 million. That's more than double the company's valuation as of November 2018, notes CEO Jordan Fisher, and it'll enable Standard Cognition to "continue to focus on making its early customers in the U.S. and Japan successful" while expanding both its team and geographic footprint.