Standard, founded in 2017 and headquartered in San Francisco, United States, develops AI-enabled automated checkout solutions for offline retailers. Its technology uses advanced camera systems and 3D analysis to identify products picked up by shoppers and enable seamless checkout without scanning. Available on both Android and iOS, Standard’s platform merges artificial intelligence, computer vision, and edge computing to create a frictionless in-store shopping experience.
What Is Standard and What Does It Do?
Standard, founded in 2017 by Jordan Fisher, is a San Francisco-based (United States) company pioneering in-store retail technology using computer vision and AI. It provides automated checkout software that enables cashierless shopping for brick-and-mortar retailers.
Standard employs between 101-250 people. Its system uses overhead cameras and machine learning to recognize customer movements and product interactions.
By combining edge AI, 3D mapping, and real-time tracking, Standard enables retailers to deliver faster, more convenient, and data-rich shopping experiences.
How Much Funding Has Standard Raised?
1. Series A
- Amount Raised: $40 M
- Date: November 2018
- Lead Investors: Initialized Capital, Y Combinator, Draper Associates, CRV
- Motivation: To develop AI-driven checkout technology and expand early partnerships.
2. Series B
- Amount Raised: $35 M
- Date: July 2019
- Lead Investors: EQT Ventures, Initialized Capital, CRV, Y Combinator
- Motivation: To enhance core technology and prepare for international expansion.
3. Series C
- Amount Raised: $150 M
- Date: February 2021
- Lead Investors: SoftBank Vision Fund, CRV, EQT Ventures, SK Networks
- Motivation: To scale global operations, commercialize autonomous store deployments, and strengthen R&D.
Total Funding Raised: $236 Million
Current Valuation: $1 Billion (as of February 2021)
Latest Funding Date: February 2021
Key Investors
1. SoftBank Vision Fund
- Details: A global investment powerhouse backing transformative technology ventures.
- Investment Focus Areas: AI, automation, robotics, and digital platforms.
- Notable Investments: Uber, DoorDash, Standard.
2. EQT Ventures
- Details: A European venture capital firm supporting innovative, scalable technology companies.
- Investment Focus Areas: AI, SaaS, mobility, and sustainability.
- Notable Investments: Wolt, Small Giant Games, Standard.
3. CRV (Charles River Ventures)
- Details: Early-stage venture capital firm investing in disruptive technology companies.
- Investment Focus Areas: Consumer tech, enterprise software, automation.
- Notable Investments: Airtable, DoorDash, Standard.
4. Initialized Capital
- Details: A San Francisco-based VC firm co-founded by Alexis Ohanian, known for early investments in breakthrough startups.
- Investment Focus Areas: AI, fintech, retail tech.
- Notable Investments: Coinbase, Instacart, Standard.
5. Y Combinator
- Details: One of the world’s most influential startup accelerators.
- Investment Focus Areas: Early-stage technology startups.
- NotableInvestments: Airbnb, Stripe, Standard.
Where Is Standard’s Headquarters?
Standard’s headquarters is located in San Francisco, California, an international hub for innovation and AI-driven startups. Its proximity to top-tier engineering talent, research institutions, and major investors has fueled Standard’s growth, making it a leader in autonomous retail solutions and real-world AI deployment.
What’s Next for Standard?
Standard aims to accelerate the rollout of its autonomous retail technology across global markets. The company plans to enhance its camera-based tracking accuracy, improve store analytics, and form partnerships with major retail chains. With increasing demand for frictionless shopping and AI-powered retail automation, Standard is positioned to become a defining player in the smart retail revolution.
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