Grabango, a venture-backed startup that was vying to take on Amazon in cashierless checkout technology, is shutting down after it was unable to raise enough money to stay afloat.
Based in Berkeley, California, Grabango was seen as one of the primary rivals to Amazon's cashierless checkout offering, called Just Walk Out.
Amazon in April pulled its cashierless checkout technology from its U.S. Fresh stores and Whole Foods supermarkets.
Glaser said Grabango eschewed shelf sensors in favor of computer vision which put it on a path for "widespread adoption."
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Persons:
Grabango, Will Glaser, Grabango's, Peter Thiel's, Glaser, Axios, CNBC's Ari Levy
Organizations:
CNBC, longtime, LinkedIn, Commerce Ventures, Fund, Unilever, Honeywell, Aldi, Amazon, Foods
Locations:
U.S, Berkeley , California