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Seattle-based spatial AI startup Augmodo has raised $21 million to push its passive wearable Smartbadges beyond retail aisles and into warehouses, factories and industrial workplaces, GeekWire and SiliconANGLE reported on July 13.
TQ Ventures Leads $350M Round
The financing was led by existing backer TQ Ventures at a $350 million post-money valuation and joined by Lerer Hippeau, Jefferson River Capital, Arena Holdings, Chemist Warehouse, New Fare, Interlace and Webb Investment Network. Augmodo says revenue has grown 10x over the past year, headcount is up 5x to more than 50 people, and new CTO Bradford Snow — previously at Axon, Meta, Amazon and Microsoft — joined in January.
Smartbadges Map 186M Sq Ft Of Retail A Month
Augmodo's Smartbadge is a lightweight, 100% passive wearable with dual on-device cameras that let any store associate feed a continuously updated 3D Realogram of shelves, out-of-stocks, planogram compliance and equipment placement. Privacy filtering runs on-device, so people are never tracked. The company now covers more than 186 million square feet of retail every month, with Amazon, eBay, Wyze, Grammarly and Scotch Porter among its named clients, and expects to cross 1 billion square feet monthly by year-end.
Next Stop: Warehouses And Industrial AI
Demand has pulled Augmodo out of stores and into warehouses, delivery operations, facility maintenance and even employee training — verticals it never targeted directly. The company plans to invest the new capital into its computer-vision and machine-learning models and to stand up cross-industry data pipelines that other robots and AI assistants can plug into for accurate real-time views of the physical world. It's the same spatial-data layer that platforms like Robot.com's R-noid humanoid and warehouse operators such as Agility Robotics' Digit increasingly rely on to plan tasks.
Reporting based on GeekWire, SiliconANGLE and Finsmes coverage.