Pensa Systems Raises $10 Million Seed Funding For AI-powered Inventory Drones

Pensa’s AI-powered drones gather accurate retail inventory data from store shelves.

Pensa Systems raised another $10 million in a seed funding round that brought its total raised tally to $17.2 million.

Pensa’s autonomous drones, powered with computer vision and artificial intelligence (AI), may revolutionize the mundane chore of retail inventory taking.

Pensa’s powerful AI system gives real-time insights into inventory levels and shelf conditions. More importantly, the system learns over time, learning the store and shelf locations, product placements, even packaging changes. Drones operate during low-traffic hours, and their inbuilt computer vision algorithms feed shelf data to the cloud. Moreover, the system provides actionable reports on low inventory SKUs, out of stock items, and key trends.

Inventory benefits

According to Pensa co-founder Richard Schwartz, the company’s inventory tracking drones can pinpoint stockouts up to 40% more accurately than current retail industry standards. Further, the drones prevent loss of profits, up to several percentage points, by tracking low inventory.

Pensa conducted a live pilot of the system with Anheuser-Busch InBev in the GA Extra Beck brick-and-mortar store in Montreal, Canada. The pilot ran for two weeks during which the drones could detect out-of-stocks 98% of the time.

Anheuser-Busch InBev is a strategic investor in Pensa.

An industry expert comments on Pensa’s inventory control

Former partner and leader of retail-store operations practice at McKinsey & Company David Ritter was very positive on the system.

“I’ve never seen anything that comes close to Pensa’s shelf inventory approach,” he said. “Combining AI, computer vision and drones to automate delivery of actionable data — it’s a game-changer for brands and retailers alike.”

[Related Story: How AI, Drones, U-Cal and Salesforce Watch Out for Sharks ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Venture Capital: Health Data Analytics Platform Evidation Raises $45M
July 2, 2020     News, Venture Capital

Evidation Health’s Achievement platform collects everyday health data for use in innovative research and health platforms. Giving due emphasis to user privacy and controlled, permissioned health data, the platform gathers…
Artificial Intelligence: A UVC Robot Disinfects 4,000 Sq Ft Food Bank in 30 Minutes
July 2, 2020     Artificial Intelligence, News

MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Ava Robotics, and the Greater Boston Food Bank (GBFB) collaborated on a robotic solution to the problem of disinfecting a large area…
Alternative Investments: TrueMark Investments Launches A Structured Outcome ETF That Tracks the S&P 500 Index
July 2, 2020     Alternative Investments, News

TrueMark Investments has launched the TrueShares Structured Outcome (July) ETF (NYSEAMERICAN: JULZ) that offers investors exposure to the S&P 500 price index. The ETF is a “structured outcome” product, the…
Digital Assets: Crypto Gathers Pace in India After Top Court Decision
July 2, 2020     Digital Assets, News

The Supreme Court of India recently struck down a circular issued by the Reserve Bank of India that barred banks from serving crypto businesses such as traders, exchanges, or others….