Hungarian visual recognition software developer Deligo has secured $3 million in a round led by Frontline Ventures. The capital will allow the startup to accelerate its AI solution development, strengthen its presence in Europe, and make a strategic entry into the US market.
- Co-founded by two brothers, Balazs Haidekker and Istvan Haidekker, in 2019, Deligo provides AI-powered checkout solutions tailored for canteens and micro markets. Its system uses AI and computer vision technologies to quickly identify food and items, accelerating the checkout process and enabling retailers to support their customers.
- Based in Budapest, Deligo has a team of 18. The startup’s AI-powered visual recognition solution is used in about 170 locations across the UK, France, and Switzerland and is trusted by global food service companies, including Elior, Arpege, ZFV, Sodexo, and Convivio.
- In 2022, the startup closed a €1.2 million pre-seed funding round. The current funding was led by Frontline Ventures, a Dublin-based venture capital firm that invests in European tech startups and supports their expansion into the American market.
- Interactive Venture Partners, and Grep VC also participated in the investment alongside various angel investors.
“With the raised capital, in addition to the already mentioned new convenience retail and deepening the existing men's line in Europe, they want to achieve another important milestone: they want to plant their flag on the American continent, which mainly means a few pilot projects launched in the convenience retail market,” Frontline Venture Chief Investment Officer, George Radfor, said.
