Checkout-free technology start-up AiFi has raised $65 million (£50 million) in a series B funding round

AiFi uses AI, machine learning, computer vision and sensor flow to deliver a check-out free experience to any retail store concept. Its advanced tracking algorithms work in up to 10,000 square feet of space to support various shopping methods, including an app, credit card, gated or hybrid entry.

The successful series B funding has secured AiFi a total of $80 million, with cash primarily being used to expand its technical team. Backers of this funding round include Qualcomm and Verizon.

“As demand for autonomous retail grows and business intelligence continues to move from the cloud to the wireless edge, we are excited to support AiFi to help drive the connected intelligent edge,” says Carlos Kokron, Vice President, Qualcomm Technologies and Managing Director, Qualcomm Ventures Americas.
Global stores with autonomous checkouts from 2018 to 2024

The number of stores offering autonomous checkouts was forecast to grow substantially over the coming years, with 10,000 stores with autonomous checkouts anticipated by 2024.