Standard wins $150 million for autonomous store rollouts; Mastercard campaign touts Black women-owned businesses

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Capitalized

Standard, which specializes in autonomous checkout tech, has raised $150 million in a new funding round it plans to use to retrofit up to 5,000 stores with its AI-driven solution in the next five years.

Softbank Vision Fund 3 led the Series C funding round along with existing investors, as Standard readies the rollout of its computer vision technology to stores in Europe and the U.S., including Circle K.

San Francisco-based Standard’s solution relies on ceiling-mounted cameras enables secure, low-touch shopping especially suitable for convenience stores, office buildings and other high-traffic zones, the company said.

Rising stars

Singer Jennifer Hudson appears in a new Mastercard TV spot this week showcasing Black female business owners as part of a broad campaign that includes grants, educational and technical support for these entrepreneurs.

Mastercard is working with Fearless Fund, a VC fund created by and for Black women-owned businesses, which will manage a grant program. Plans call for a road show to cities demonstrating ways to promote an equitable business climate, Mastercard said in a press release.

mastercard cards
Andrew Harrer/Bloomberg

The effort builds on Mastercard’s plan to support Black communities over the next five years with $500 million through products, services, technology and financial support.

Found money

Gravy has raised $4.5 million in an initial funding round to build a service that helps subscription-based businesses recover “failed payments,” TechCrunch reports.

The growing number of digital subscriptions means many consumers forget to pay and companies don’t know how to reach them. Gravy integrates with companies’ payment processing systems and tracks down consumers via texts and emails to resolve billing issues.

Gravy’s founders devised the solution after discovering the difficulty of collecting on failed subscription payments for an earlier firm it launched and sold called The Rocket Company. Gravy, which launched in 2017, has 300 clients.

Busted

The U.S. has indicted three North Korean computer programmers accused of widespread cyberattacks over several years that aimed to steal more than $1.3 billion in cash and cryptocurrency from banks and companies.

The programmers allegedly hacked into computer networks around the world, sent fraudulent wire service messages, attempted to develop and sell a blockchain platform and conducted phishing campaigns targeting U.S. Defense Department employees in a series of scams beginning as early as 2014, CNBC reports.

The indictment charges Jon Chang, Kim Il and Park Jin Hyo, all members of a North Korean military intelligence agency, with a broad series of criminal acts and hacking; Ghaleb Alaumary, a Canadian-American citizen, also plead guilty to helping the crew with money-laundering as part of the schemes.

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