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Kraft Heinz-backed venture fund invests in tech startup Zippin

Artificial intelligence startup Zippin secured a $12 million investment in a series A funding led by Kraft Heinz Co.-backed venture fund Evolv Ventures, according to a Dec. 12 release.

Zippin uses computer vision, AI and sensor fusion technology to offer brick-and-mortar retailers checkout-free technology.

The latest round brings Zippin's total funds to $15 million, which will allow the company to develop new products and expand its technical team, as well as its sales and partnership efforts. Zippin also expects the investment to help accelerate new store launches in the coming months.

Smriti Jayaraman, principal at Evolv Ventures, said in a statement: "We're excited to join Zippin's journey as these new formats become critical to the transition currently underway in retail."

Other investors in the funding round include SAP.iO, Scrum Ventures, Arca Continental, Nomura Research Institute and NTT DOCOMO Ventures. Existing investors Maven Ventures, Core Ventures Group, Pear Ventures and Montage Ventures also joined the oversubscribed round.