Augmodo, a Seattle-based startup, secured $37.5 million in a Series A funding round. TQ Ventures led the investment. This capital will advance Augmodo's spatial AI technology for retail operations.
Augmodo develops a real-time inventory and task tracker. Its wearable SmartBadges create live 3D store maps. A spatial AI assistant recommends actions to store associates, improving efficiency. This technology helps with restocking, order placement, and compliance.
Augmodo's Spatial AI Powers Retail Efficiency
Compared to other solutions like Retail Robotics, SmartBadges gather data ten times more frequently. They are also 100 times cheaper and install in under 20 minutes. Associates collect data passively during normal tasks. The system reduces stockouts and saves inventory and labor costs for retailers. Augmodo's SpatialView analytics platform provides real-time shelf visibility for executives. This allows remote monitoring of store conditions.
The company plans to scale its artificial intelligence solutions to hundreds of stores in 2025. It aims for over a thousand locations within the next 18 months. This expansion targets new retail channels and geographies, enhancing supply chain management.
Existing investors Lerer Hippeau, NewFare, WIN, and Interlace participated. New investors included Arena Holdings and Jefferson River Capital. Augmodo previously raised a $5.3 million seed round.
