Mashgin
Mashgin, based in Palo Alto, CA, offers AI-powered self-checkout kiosks that use computer vision to identify items without barcodes, significantly reducing checkout times and boosting revenues for retailers.
Company Overview
Mashgin is a B2B company headquartered in Palo Alto, California, with a team size of 75 members. It belongs to the retail sub-industry and has achieved significant milestones since its inception in the Y-Combinator W15 batch. The company operates in regions including the United States, America/Canada, and remote offices.
Mashgin Kiosks
Mashgin offers touchless self-checkout kiosks that utilize AI-powered computer vision technology for a faster checkout experience. The kiosks require only a power outlet and an ethernet connection, and they recommend a countertop footprint of 50" x 30" for optimal efficiency. The system can identify multiple items in under a second without the need for barcodes, achieving an impressive 99.9% accuracy. Additionally, new products can be scanned into the system by store clerks in just 30 seconds.
Technological Innovations
Mashgin uses multiple cameras to build a three-dimensional understanding of items. Their proprietary computer vision algorithms enable high-accuracy object detection and identification. Partnering with Biometric ID provider Keyo, the company has introduced contactless Pay By Palm technology. Mashgin's technology has been expanded to over 30 universities, and it supports over 7,000 convenience stores.
Performance Metrics
Mashgin processes over 350 million transactions across its deployments. The company's kiosks have shown a significant reduction in checkout times, with locations such as Adelaide Oval achieving a median transaction time under 14 seconds. Clients have witnessed revenue increases of up to 400% and transaction speeds up to 400% faster than traditional POS systems. For instance, the Denver Broncos' Empower Field saw a 34% increase in transactions per game.
Industry Impact
Mashgin's self-checkout kiosks are deployed in over 3,500 locations, including major convenience store chains, Fortune 500 companies, and over 100 iconic sports stadiums like Denver Broncos, LAFC, Kansas City Chiefs, and Madison Square Garden. The technology has drastically improved the retail experience by eliminating checkout speed bumps and reducing lines dramatically. Over 70% of customers surveyed prefer Mashjin, resulting in increased customer retention and business growth.