Gather AI Secures $17 Million Investment to Revolutionize Warehouse Management with AI-Driven Solutions

0

Gather AI, a leading provider of advanced computer vision and AI-powered inventory monitoring solutions for warehouses, has announced a successful Series A-1 funding round, raising $17 million. The round was led by Bain Capital Ventures, with participation from Tribeca Venture Partners, Dundee Venture Capital, Expa, and Bling Capital. This latest funding brings the total raised by Gather AI to $34 million and will be utilized to accelerate the company’s growth initiatives.

Traditional inventory monitoring methods often rely on manual processes such as cycle counting through barcode scanning, resulting in inaccuracies and operational inefficiencies. Gather AI’s innovative solutions address these challenges by leveraging autonomous drones equipped with computer vision technology to provide richer data insights than conventional methods. This enables warehouses to optimize their operations and mitigate revenue loss associated with inaccurate inventory management.

Ajay Agarwal, partner at Bain Capital Ventures, commended Gather AI’s cutting-edge technology and significant commercial adoption, distinguishing it from other venture-backed startups in the field. He expressed excitement about the company joining Bain Capital Ventures’ portfolio, alongside other industry-leading companies leveraging AI and software in the physical world.

Gather AI’s solution utilizes AI-powered drones to autonomously navigate warehouses, significantly accelerating the inventory monitoring process compared to traditional methods. The technology extracts valuable information such as barcodes, text, and empty locations from captured images, providing real-time inventory insights to warehouse managers through an intuitive web dashboard. Customers have reported substantial returns on investment, with a notable reduction in warehouse inventory errors.

Cody Merritt, Director of Solution Design and Innovation at NFI, highlighted the seamless integration of Gather AI’s solution into their warehouse operations, resulting in a significant increase in productivity. Sankalp Arora, co-founder and CEO of Gather AI, emphasized the transformative impact of AI-powered cameras on supply chain traceability, likening it to the adoption of barcodes in the 1980s.

Founded in 2017 by co-founders Sankalp Arora, Daniel Maturana, and Geetesh Dubey, Gather AI brings together a team with extensive expertise in deep learning, autonomy, and computer vision. The company has experienced rapid growth, doubling the number of warehouses served last year and witnessing a 2.5x increase in bookings. With strong market demand and customer expansion, Gather AI is poised for further growth, aiming to triple its operations this year.

To learn more, join Gather AI at the International Warehouse Logistics Association (IWLA) Convention & Expo, Booth #203, April 21-23 or visit 

link

Leave a Reply

Your email address will not be published. Required fields are marked *