Standard Cognition, which helps brick & mortar retailers compete with Amazon’s cashierless stores, has acquired a mapping and computer vision startup. The financial terms of the deal were not disclosed.
Explorer.ai’s technology was first designed for autonomous vehicles at Carnegie Mellon University. Now, it’s technology will be used to help Standard map larger stores and expand its checkout-free solution.
In just over a year of existence, Standard has the backing of Alexis Ohanian and Garry Tan’s Initialized Capital and Y Combinator among others – picking up $40m in Series A funding las t month. With the acquisition, Standard brings in seven AI engineers from Explorer.ai as well as its mapping technology.
“We are thrilled to join forces with the Explorer team,” said Jordan Fisher, co-founder and CEO of Standard. “The team is highly experienced and already works well together – having them in place gives our engineering team a big edge and a running start toward applying their state-of-the-art computer vision and mapping skill sets in autonomous vehicles (AV) to retail. We believe mapping is a critical ingredient to autonomous checkout. The Explorer team has a strong record of tackling these problems together, and we're confident that this will allow us to make rapid progress at Standard.”