Pensa Systems, an Austin, TX-based provider of autonomous perception systems, raised $10m in seed funding.
The company, which has now raised a total of $17.2m, intends to use the funds to accelerate deployment of its solution for retail inventory visibility.
The round was led by existing investors Signia Venture Partners and ATX Venture Partners, joined by Commerce Ventures, Capital Factory and Revtech Ventures, alongside new investment from retail industry veterans David Ritter and James McCann. Existing seed investors include ZX Ventures, the investment arm of Anheuser-Busch InBev; Mick Mountz, the founder and CEO of Kiva Systems; and others. Additionally, ATX managing director Chris Shonk has joined Pensa’s board of directors, and James McCann and David Ritter have joined the company’s advisory board.
Pensa provides a retail inventory visibility system, which uses advanced computer vision, patent-pending artificial intelligence and autonomous drones to see and understand what’s on store shelves. The system allows brands and retailers to minimize stockouts, optimize product planning and increase revenue. The system’s approach detects stockouts with 98+ percent shelf accuracy and is scalable across store locations due to its simple, flexible, low-cost-per-store deployment model.
Pensa has completed pilots with major retailers and global brands including Anheuser-Busch InBev (AB InBev).