Augmodo Raises $5.3 Million in Seed Funding

In a move that could shake up the retail world with the powers of AI, Augmodo has secured $5.3 million in seed funding to bring its innovative SmartBadge™ technology to stores all around the world.

Led by Lerer Hippeau and joined by Dunnhumby Ventures, NewFare Partners, and Simple Food Ventures, the funding round underscores strong investor confidence in Augmodo’s ability to reshape retail operations.

But what’s the big deal?

Well, Augmodo's proprietary SmartBadge™ system tracks inventory and tasks in real-time using wearable tech, creating live 3D store maps. These badges—powered by a clever Spatial AI assistant—help store associates handle everything from restocking shelves to managing returns, ultimately cutting down inefficiencies that cost retailers a whopping $1.75 trillion annually.

In other words, Augmodo is here to make sure those frustrating "out-of-stock" moments become a distant memory.

Ross Finman, Augmodo's founder and CEO—who reportedly boasts an estimated net worth of $45 million—believes this is only the beginning. “Retail is about to be transformed,” he says, as his tech aims to empower store associates while improving shopping experiences.

“Artificial Intelligence is already changing retail, and new advances in AR and spatial computing are about to completely transform the physical world of shopping as we know it, he added.”

It sounds like a win-win for both retailers and customers alike.

The technology isn’t just a futuristic idea either. It’s quick to implement, taking less than 20 minutes to set up in stores and costing 100 times less than current alternatives.

Plus, no operational overhaul is required—just strap on a badge and get to work. It's like giving retail associates superpowers without them needing a cape.

With four patents filed and global pilots scheduled for 2024, Augmodo looks poised to make a lasting impact.

It’s retail, but smarter—and thanks to this fresh funding, it’s coming to a store near you soon.