Pensa recognized for achievements in automated retail shelf intelligence.
CB Insights today named Pensa Systems, a leading innovator in automated retail shelf intelligence, to its Retail Tech 100 ranking, which showcases the 100 most promising B2B retail tech companies in the world.
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The 2022 Retail Tech 100 cohort highlights startups reimagining the retail experience across 13 categories. This year’s winning companies are working on hyper-personalized shopping, blockchain-powered commerce, autonomous delivery, virtual shopping, and more. 19 countries are represented this year, including India, China, Mexico, Singapore, and the Netherlands, among others.
“By almost any measure, this has been a breakout year for retail tech. We’ve seen skyrocketing funding across the industry, powering companies involved in every aspect of retail from instant grocery delivery to supply chain technology,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “In 2021 alone, these 100 companies raised $13.1B in funding, an incredibly impressive feat. As the retail landscape evolves, we’re excited to see how the companies on the Retail Tech 100 continue to revolutionize how consumers shop.”
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“We are honored to have been named to CB Insights’ 2022 Retail Tech 100 for our innovation in automated retail shelf intelligence,” said Richard Schwartz, President and CEO of Pensa Systems. “Our team is committed to empowering our customers with a fast and accurate automated solution to digitize their physical inventory to bring it online. This recognition is exceptional validation that we are on the right track in helping to define the future of retail.”
Pensa fills a gap for retailers and CPG brands by providing a continuous view of actual products on the retail shelf as an alternative to legacy approaches that estimate shelf inventory based on a combination of back-room inventory and point of sale data. Pensa’s solution learns to visually recognize and distinguish between products on the shelf much as a human does versus scanning a barcode on the back of a package or comparing a single product image against a product image database. Pensa patented AI captures then automatically analyzes a video stream of hundreds of images, taken from numerous angles, of each individual product on the shelf to flag stockouts, optimize item availability and improve demand forecasting and omnichannel delivery.