Pensa Systems, an Austin, Texas-based autonomous perception systems company, raised $5m in additional funding.
The round was led by Signia Venture Partners, with participation from new investor Commerce Ventures, as well as existing investors ZX Ventures, ATX Seed Ventures, Capital Factory, Revtech Ventures and others. In conjunction with the funding, Ed Cluss, partner at Signia Venture Partners, will join Pensa’s board of directors.
The company, which has raised a total of $7.2m, intends to use the funds to accelerate deployment of its system for retail inventory visibility and store trials with large retailers and CPG brands in North America and abroad.
Led by Richard Schwartz, president and CEO, Pensa Systems delivers a scalable system that automatically and systematically tracks in-store inventory, using advanced computer vision, patent-pending artificial intelligence and autonomous drones to see and understand what is on store shelves. This approach can help brands and retailers minimize stockouts, optimize product planning and increase revenue.
The company has already completed multiple live trials with major consumer brands and retailers, including worldwide beverage leader Anheuser-Busch InBev (AB InBev), which became a strategic investor through its ZX Ventures growth and innovation unit.