Mashgin Raised $62.5 Million to Develop and Scale its Services

‘Mashgin,’ a company most known for its efficient touchless self-checkout system, announced a $62.5 million USD, series B round of funding.

The Mashgin self-checkout services offer one of the quickest possible ways for customers to check themselves out.

Rather than a particular customer having to locate and manually scan the barcode on each item, the Mashgin system uses image recognition to immediately identify which items are being purchased.

Additionally, the system allows customers to pay with all conventional POS systems, such as through cash, credit card, and more.

According to Mashgin, the service enables customers the ability to fully check-out their order in approximately ten seconds. Not only is this system efficient and attractive to the customer, but it is also an excellent tool for employees. The reliability of the system drastically reduces the amount of personal assistance required at self-checkout stands, which often occurs when customers are unable to locate, unable to scan, or are unable to pay with inefficient systems.

The Mashgin system also helps employees by reducing the time dedicated to counting inventory and recording sales, as many of these values are counted automatically.