RADAR, the technology platform that combines RFID and computer vision technology to track and precisely locate in-store inventory with 99% accuracy, today announced it has secured $30 million in Series A funding, bringing its total funding to date to $63 million. The round was led by returning investor Align Ventures, with participation from RX Ventures, which is the corporate venture capital fund of South American retailer Lojas Renner, and several other renowned retail investors. RADAR plans to use the new investment to expand its customer roster, accelerate its product development efforts, and hire top engineering, product and sales talent.
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Company Information
Company
RADAR
Location
New York, New York, United States
About
RADAR offers a proprietary hardware and software AI-platform that uses RFID and computer vision to turn physical stores into the equivalent of websites. The technology enables retailers to measure everything that happens inside their stores for the first time, including real-time inventory levels and fitting room conversions, helping eliminate consumer pain points like out-of-stocks and products that have to be replenished from the stockroom. RADAR’s technology currently powers inventory optimization in more than 1000 top brand retail stores in the US and Canada.
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