Cheers to a Momentous Year Full of New Milestones
by Frank Beard on
They say the holidays are a time of reflection.
As we press the pause button and step away to celebrate with friends and family, it’s important to also look back on the past twelve months. After all, the autonomous retail revolution is an extremely fast-paced and dynamic world. It’s good to reflect on where we’ve been and what we’ve accomplished even as we remain laser-focused on innovating for tomorrow.
Here are five of Standard AI’s most momentous milestones from 2021. We want to extend our gratitude to everyone who joined us along the way, and we look forward to even more exciting announcements in 2022.
1. Standard AI becomes the world’s first autonomous checkout unicorn
Back in February, we made waves with the announcement of a $150MM Series C round led by Softbank’s Vision Fund 2 with participation from EQT, CRV, SK Networks, and a truly elite set of investors. This was—and continues to be—the single largest investment for an autonomous checkout or pure-play computer vision company. The billion dollar valuation placed us firmly in unicorn territory.
2. Standard AI launches Circle K’s first fully-retrofitted autonomous convenience store
Opening this store was an exciting development for retail and a groundbreaking moment for Standard AI. While our cameras-only approach makes it easy to retrofit existing stores, the high density of products made this location our most challenging environment thus far. That’s why we’re proud to say we’ve maintained industry-leading accuracy and receipt times.
3. Standard AI expands its executive team with multiple strategic hires
Leading the autonomous retail revolution requires the right talent, and we made big moves in 2021. From CFO Jennifer Haroon to COO Angie Westbrock—and the addition of our first-ever VP of machine learning, Sameer Qureshi—we drastically expanded our capabilities and positioned ourselves to redefine retail and computer vision technology. The acquisition of UK-based ThirdEye Labs also brought the addition of a product and engineering team that had been engaged in cutting-edge machine learning work.
4. Standard AI introduces baseball’s first autonomous retail experience
Nobody wants to miss the game because of a long line for snacks or beverages. That’s why we joined the Worcester Red Sox in launching WooSox Market—baseball’s first autonomous retail experience. Now with the ability to shop, tap, and go, fans at Polar Park can avoid friction and get back to more important activities. Given that Worcester is a city of “firsts”—including the invention of white chocolate and the smiley face—we’re proud to help the community lay claim to this momentous event in retail history.
5. Standard AI Recognized as RTIH’s Technology Vendor of the Year
Rounding out our list is something we’re particularly excited about. Citing our computer vision-based autonomous solution and ability to retrofit stores without disruption to day-to-day activities, Retail Technology Innovation Hub (RTIH) selected Standard AI as the winner of their 2021 Technology Vendor of the Year award. After a full year of hard work and relentless dedication, it’s always nice to earn a bit of recognition. We want to extend our gratitude to the entire team at RTIH.