Covington Advises Standard Cognition in $40M Series A Preferred Stock Financing

PALO ALTO—Covington advised Standard Cognition, which provides artificial intelligence-powered autonomous checkout solutions for brick and mortar retailers, in raising a $40 million round of Series A Preferred Stock investment.

Available to any retailer, the Standard Cognition solution allows consumers to shop and pay without waiting in line, scanning, or stopping to check out. This financing round will enable Standard Cognition to expand its team and accelerate its ongoing global expansion as it rolls out its customers’ initial autonomous checkout-enabled stores.

The Covington team included Tom DeFilipps, Michelle Stewart, and Balaji Giridharan.