Pennsylvania, The U.S.A-based supply chain robotics company Gather AI raised USD 10 million in recent funding. The Series A round took place on October 6, 2022. Tribeca Venture Partners led the financing for the firm. The Series A round also saw the participation of Xplorer Capital, Dundee Venture Capital, Expa, Bling Capital, XRC Labs and 99 tartans.
Purpose of funding for Gather AI
With the latest capital injection, the company seeks to accelerate its go-to-market strategy.
It also has plans to focus on the continued development of its real-time inventory visibility platform.
What the company’s official has to say
Gather AI Co-Founder Sankalp Arora said, “The supply chain issues making headlines less than a year ago put a spotlight on challenges that the logistics industry has been trying to address for the last two decades: how to effectively manage operations to maximize revenue and efficiency, all while minimizing frustrations that come with labour shortages.”
He further added, “The reality is, the majority of warehouses have access to technology that is from before the e-commerce boom, which has exacerbated the struggle to keep up with the changes in both industry demands and customer habits. Gather AI empowers warehouse operators with automation without needing capex to help solve age-old problems. Since our first warehouse deployment in 2020, we have seen incredible demand. This funding round will help us meet the overwhelming interest.”
What the investor has to say
Chip Meakem, co-founder and Managing Partner of Tribeca Venture Partners, said, “By utilizing commercially-available drones, Gather AI has lowered cost and complexity for warehouses to adopt sophisticated and much-needed automated inventory technology. Whether it’s a large-scale multi-warehouse operation or a single facility, Gather AI is solving a pressing need in a massive market that touches everyone, from consumers to major manufacturers suffering on the production line due to supply chain issues. Gather’s founding team’s unique blend of robotics and software expertise is creating a new breed of robotics companies that are driving value by delivering AI-driven software solutions via highly-reliable off-the-shelf hardware– in this case, drones. We’re excited to help the team scale up to meet its current influx of demand.”
About the company
Dr Sankalp Arora, Dr Daniel Maturana, and Geetesh Dubey launched the company in 2017. The company operates as a supply chain robotics company that delivers a real-time inventory visibility platform. It leverages autonomous drones that monitor warehouse inventory activity.
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