Reported about 9 hours ago
Metropolis Technologies, a U.S. parking lot operator utilizing AI and computer vision, has raised $1.6 billion to expand its technology into sectors like retail and hospitality. The funding includes a $500 million equity round led by LionTree, valuing the company at $5 billion, alongside a $1.1 billion term loan. CEO Alex Israel aims to create a 'Recognition Economy' where transactions are automated through customer recognition, enhancing customer experience and efficiency.
Source: YAHOO