From Vision to Reality: Standard Cognition's Path to Success

Standard Cognition (also known as Standard AI) is a San Francisco-based technology company that develops artificial intelligence-powered checkout systems for retailers. The company's checkout system uses computer vision and AI to automatically detect and track items as shoppers add them to their cart, and then charge them when they leave the store, without the need for cashiers or self-checkout machines. Standard Cognition has been gaining traction in the retail industry, with several partnerships and investment rounds that indicate strong growth prospects for the company.

First, Standard Cognition has secured partnerships with major retailers such as Circle K, a global convenience store chain with over 16,000 locations, and Paltac, one of Japan's largest distributors of consumer goods. These partnerships demonstrate that Standard Cognition's technology is attractive to large retailers who are looking to streamline operations and reduce costs.

Second, Standard Cognition has raised significant funding from top-tier investors such as CRV, Initialized Capital, and Y Combinator. In November 2020, the company raised $150 million in a Series C funding round, bringing its total funding to $271 million. This funding will enable Standard Cognition to continue developing and improving its technology, as well as expanding its operations globally.

Third, the COVID-19 pandemic has accelerated the adoption of contactless checkout systems, which plays to Standard Cognition's strengths. As retailers look for ways to reduce person-to-person interactions and improve safety for customers and employees, Standard Cognition's technology offers a compelling solution.

Finally, Standard Cognition has a strong team of experts in computer vision, AI, and retail operations, which positions the company well for continued growth and success. The company's CEO, Jordan Fisher, was previously a top executive at Jet.com, a leading online retailer, and its co-founder, Michael Suswal, has a background in computer vision and robotics.