Augmodo Secures $37.5M to Revolutionize Retail with Wearable Tech Smartbadges

Augmodo, a Seattle-based startup, has successfully raised $37.5 million in a recent funding round to advance its innovative wearable technology designed for retail employees. This investment, led by TQ Ventures, marks a significant milestone for the company, which was founded in 2023 and had previously secured a $5.4 million seed round.

The Smartbadge Technology

At the heart of Augmodo's innovation is the Smartbadge, a wearable device equipped with computer vision and 3D mapping technologies. These badges enable retail workers to efficiently monitor inventory levels, identify empty shelves, and detect overstocking issues as they move through store aisles.

Transforming Retail Operations

Augmodo's technology offers several key benefits:

• Real-time inventory tracking to reduce stockouts and overstocking.
• Enhanced efficiency in e-commerce grocery orders by minimizing substitutions.
• Digital store mapping for brands to monitor their products and promotions in near real-time.

One notable client leveraging Augmodo's solution is Chemist Warehouse, Australia's largest pharmacy retailer.

Privacy and Security

Augmodo emphasizes that its devices do not track employees or customers, focusing solely on shelf data. However, the Smartbadges include a panic button feature for security purposes.

About the Founder

Ross Finman, Augmodo's CEO, brings a rich background in robotics and augmented reality to the table. A former MIT researcher, Finman previously founded Escher Reality, which was acquired by Niantic Labs, the creators of Pokémon Go.

This funding round underscores the growing interest in spatial computing and AI-driven solutions for the retail sector, positioning Augmodo as a pioneer in wearable retail technology.