TLDR:
- Gather AI raises $17 million from Bain Capital Ventures for its flying drones that conduct inventory counts inside warehouses.
- The funding will be used to scale operations and continue attracting customers with richer data and AI solutions.
Pittsburgh-based startup Gather AI has secured $17 million in funding from investment firm Bain Capital Ventures for its flying drones that are designed to conduct inventory counts inside warehouses. The round was led by Bain, with participation from other venture partners, bringing the total raised amount to $34 million. The funding will be used to scale operations as Gather AI continues to address supply chain challenges with advanced data and AI solutions.
Gather AI, which describes itself as an “autonomous inventory monitoring company,” aims to help warehouse operators improve inventory accuracy. Traditional methods such as cycle counting via barcode scanning often result in low accuracy levels, as workers face challenges in surveying the entire warehouse due to capacity constraints. Inaccurate inventory counts can lead to significant financial losses for businesses in terms of lost revenue from missed orders.
The company’s cutting-edge computer vision and workflow software have seen significant commercial adoption and rapid growth, setting it apart from other startups in the field. Bain Capital Ventures expressed excitement about welcoming Gather AI to its portfolio, highlighting the company’s focus on leveraging AI and software in the physical world. The funding news comes on the heels of Gather AI’s recent hire of a founding engineer from Amazon Robotics as its new chief technology officer, signaling further advancements in the company’s technology and capabilities.
