How Much Did Mashgin Raise? Headquarters, Funding & Key Investors

Mashgin, founded in 2014 and based in Palo Alto, California, has raised a total of $75 million across five funding rounds, achieving a $1.5 billion valuation in May 2022. The company’s latest $62.5 million Series B round was led by New Enterprise Associates (NEA), following earlier investments from Matrix Partners, Y Combinator, and Highway1. With a team of about 80 employees, Mashgin develops AI- and computer vision-powered self-checkout systems that enable instant, touchless transactions, transforming checkout experiences across retail stores, stadiums, and corporate cafeterias globally.

How Much Did Mashgin Raise? Funding & Key Investors

Mashgin has raised $75 million in funding and achieved a $1.5 billion valuation as of May 2022. The company leverages computer vision and AI to revolutionize self-checkout for offline retailers, offering touchless and frictionless experiences that improve speed, efficiency, and customer satisfaction.

What Is Mashgin and What Does It Do?

Mashgin, founded in 2014 by Abhinai Srivastava and Mukul Dhankhar, is headquartered in Palo Alto, California. The company develops AI-powered, computer-vision-based self-checkout systems that identify and bill items instantly without barcodes or manual scanning.

Mashgin’s touchless checkout kiosks are trained on each store’s products, enabling them to recognize and automatically ring up purchases visually.

With a team of around 80 employees, Mashgin’s technology is deployed across convenience stores, stadiums, and corporate cafeterias, enhancing speed, accuracy, and the overall customer experience.

How Much Funding Has Mashgin Raised?

1. Convertible Note

Amount Raised: $75 K
Date: September 2014
Lead Investors: Highway1
Motivation: Secure early funding for prototype development and market testing.

2. Pre-Seed Round

Amount Raised: $120 K
Date: January 2015
Lead Investors: Y Combinator
Motivation: Develop the initial AI-powered checkout prototype and validate the concept.

3. Seed Round

Amount Raised: $2.8 M
Date: April 2015
Motivation: Expand the engineering team and enhance core technology for market deployment.

4. Series A

Amount Raised: $8.2 M
Date: November 2017
Lead Investors: Matrix Partners
Motivation: Scale operations and enter new verticals such as retail and healthcare.

5. Series B

Amount Raised: $62.5 M
Date: May 2022
Lead Investors: New Enterprise Associates (NEA)
Motivation: Accelerate team growth, scale internationally, and expand AI checkout deployment to meet rising global demand.

Total Funding Raised: $75 Million

Current Valuation: $1.5 Billion (as of May 2022)

Latest Funding Date: May 2022

Key Investors

1. New Enterprise Associates (NEA)

Details: Global VC firm with $24 B in committed capital backing high-growth technology and healthcare companies.
Investment Focus Areas: Technology, Healthcare, Enterprise Software, Consumer Services.
Notable Investments: Robinhood, Coursera, Uber.

2. Matrix Partners

Details: Early-stage VC firm known for backing transformative technology startups.
Investment Focus Areas: Technology, Consumer Services, Enterprise Software, Fintech.
Notable Investments: HubSpot, Zendesk, Oculus VR.

3. Y Combinator

Details: Global startup accelerator that funds and mentors early-stage startups through its renowned three-month program.
Investment Focus Areas: Technology, Internet, Software.
Notable Investments: Airbnb, Dropbox, Stripe.

4. Highway1

Details: Hardware accelerator supporting early hardware and IoT startups with seed capital and mentorship.
Investment Focus Areas: Hardware, IoT, Consumer Electronics.
Notable Investments: Ringly, Navdy, Podo.

5. Susa Ventures

Details: VC firm focused on data-driven early-stage companies with a diverse investment portfolio.
Investment Focus Areas: Data, Technology, Consumer.
Notable Investments: Various data-centric startups across tech and consumer sectors.

Where Is Mashgin’s Headquarters?

Mashgin is headquartered in Palo Alto, California, a global hub for AI innovation and computer-vision development. Its location gives it access to top engineering talent, research collaboration opportunities, and a thriving tech ecosystem ideal for hardware and AI innovation.

What’s Next for Mashgin?

Mashgin is expanding rapidly across North America and Europe as contactless and autonomous checkout technologies gain mainstream traction. The company plans to deploy its kiosks in convenience stores, airports, corporate cafeterias, and stadiums, aiming to reach a global footprint of over 2,000 locations by 2026.

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