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Report: Grabango, a provider of cashierless checkout technology, shuts down its operations – PYMNTS.com


Grabango, a provider of cashierless checkout technology, has announced that it is discontinuing its operations. The company’s technology allowed shoppers to pay for their purchases without the need for a cashier, utilizing a combination of computer vision and machine learning algorithms.

According to Grabango CEO Will Glaser, the decision to shut down operations was made after careful consideration of various factors, including the impact of the COVID-19 pandemic on the retail industry and the economy as a whole. Glaser stated that while the company had made significant progress in developing its technology, the current economic climate made it difficult to sustain operations.

Grabango had partnered with a number of retailers, including Giant Eagle, to pilot its cashierless checkout technology. The technology was designed to improve the shopping experience for customers by reducing wait times and streamlining the checkout process. However, with the challenges posed by the pandemic and the economic uncertainty facing the retail industry, Grabango was unable to continue its operations.

The news of Grabango’s closure comes at a time when cashierless checkout technology is gaining traction in the retail industry, with companies like Amazon and Walmart investing heavily in this technology. Despite Grabango’s discontinuation of operations, the company’s decision is a reminder of the challenges faced by startups in the current economic climate.

Grabango’s closure is a loss for the retail industry, as the company had been seen as a leader in the cashierless checkout space. However, it also serves as a cautionary tale for other startups looking to enter the market, highlighting the importance of carefully considering market conditions and economic factors before investing in new technology.

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