Lerer Hippeau
Assembly Line
Augmodo Raises $5.3M to Scale Spatial AI Commerce Tech
Augmodo, the only real-time inventory and task tracker using wearable SmartBadges™ to create live 3D store maps, announced it raised $5.3 million in seed funding. The round was led by Lerer Hippeau, with participation from Dunnhumby Ventures, NewFare Partners and Simple Food Ventures, bringing together a broad range of strategic investors who share Augmodo’s vision for the next generation of retail.
Augmodo’s proprietary SmartBadges™ are powered by a Spatial AI assistant for store associates, which recommends actions and tasks to increase efficiencies, including restocking shelves, placing orders and improving compliance, saving stores time and money and improving retailer, associate, brand and shopper experiences. Retailers lose $1.75 trillion in revenue worldwide due to out-of-stocks, preventable returns and overstocks and Augmodo’s tech will help curtail the 11.7% of lost revenue from store inefficiencies and data disconnects.