And Media Assets
“Focusing on (and winning over) larger retailers and stores may help distinguish Grabango from other technology companies in this market. The company also claims to have initiated store deployments covering up to 50,000 square feet. Meanwhile, Amazon is focusing on the smaller convenience store format with Amazon Go, and others in that particular segment, including 7-Eleven, have started to grasp the value of letting customers checkout with waiting in line.”
“The early momentum has investors impressed. Grabango today announced that it’s raised $12 million in a Series A funding round led by Propel Venture Partners, with participation from Ridge Ventures, Abstract Ventures, Commerce Ventures, and Founders Fund. It brings the 37-person company’s total raised to $18 million, and will see Ryan Gilbert, general partner at Propel, join the board of directors.”
Berkeley, Calif. – January 7, 2019 – Silicon Valley startup Grabango announced today that it has raised $12 million in an oversubscribed Series A financing round. Propel Venture Partners led the investment with participation from Ridge Ventures, Abstract Ventures, Commerce Ventures, and Founders Fund. Ryan Gilbert, a General Partner at Propel, will join Grabango’s Board of Directors. This round brings Grabango’s total funding to $18 million. The company will use the funds to grow its product development team and expand client store deployments with checkout-free technology.
“…others across the ecosystem, including Grabango, are developing checkout-free products. CEO Will Glaser compared Grabango’s shopping experience to that of Amazon Go during his presentation at Money20/20 USA. However, he explained that Amazon Go is focused on newly constructed convenience stores whereas Grabango is focused on retrofitting grocery stores.”