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The proprietary technology guides notable brands to take fast action on retail shelves based on ROI and revenue opportunities.
FREMONT, CA: "Brands need to know what is happening on their shelves, it's never been more vital to their business. Playbook offers that advantage, and it has translated into both a major jump in sales and decrease in operational costs for our customers. Our customers have told us this will be the most impactful change they make to their operations in the next 10 to 20 years." says Roy Mehta, CEO of CoolR Group.
CoolR Group, one of the pioneers in automated ordering for brands utilizing AI image recognition, declares a $10 million funding round led by First Analysis, a long-term VC investor. Moneta Ventures and Remarkable Ventures participated in the oversubscribed round. The funds will be utilized to fuel growth and fund R&D.
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"With CoolR's cameras in their in-store refrigerators and freezers, CoolR's brand and distributor customers can automatically ensure their goods are cost-effectively stocked when and where needed, yielding paybacks in as short as a few months—a rare feat in IoT. We look forward to helping CoolR scale further and unlock its full potential." says David Gearhart, First Analysis Senior Vice President of CoolR Group.
CoolR is well-positioned to profit from the changes that have disrupted retail over the past two years, changes that market analysts predict will persist. CoolR generates over one million intelligent replenishment tasks and store visits for its customers, which include some of the significant soda, ice cream, beer, and pet food firms.
With rising labor, shipping, and material costs, marketers must maximize every opportunity for restocking and merchandising. The company employs its proprietary cameras, third-party apps, and devices to capture images in real-time from shelves. It then interprets those images into prioritized actions, enabling brands to deploy their people and resources to the most pressing and advantageous situations.
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