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- Augmodo Raises $5.3 Million in Seed Funding to Revolutionize Retail with SmartBadgeTM Technology
Augmodo Raises $5.3 Million in Seed Funding to Revolutionize Retail with SmartBadgeTM Technology
Slice of Retail Team
October 07, 2024
Key Highlights:
Augmodo raises $5.3 million to scale its SmartBadge™ technology.
Real-time 3D store mapping powered by Spatial AI for enhanced store operations.
Partners include Lerer Hippeau, Dunnhumby Ventures, and more.
Augmodo technology helps reduce the 11.7% revenue loss from retail inefficiencies.
Source: Business Wire
Notable Quotes:
“Artificial Intelligence is already changing retail, and new advances in AR and spatial computing are about to completely transform the physical world of shopping as we know it.”
“We’re thrilled to partner with Augmodo as they bring spatial computing to retail at scale and modernize the labor workforce.”
“Our retail associates are our best assets, and they have critical job responsibilities on store floors... Augmodo empowers them to be even more valuable.”
Our Take:
Augmodo’s innovative approach to combining wearable tech with spatial computing is a significant step forward in tackling long-standing retail inefficiencies. Their SmartBadge™ solution not only cuts down on costly operational redundancies but also enhances the productivity and value of store associates. With strategic investors and retail giants like Chemist Warehouse onboard, Augmodo is poised to drive meaningful change across the retail sector, potentially saving billions of dollars in lost revenue worldwide.