TL;DR: Augmodo raised an additional $21M led by TQ Ventures, boosting the valuation to $350M. Scaling AI assistants for the physical workforce, accelerating the roadmap into manufacturing, automotive, convenience stores, and more.
By Ross Finman, Founder & CEO
For thirty years, digital transformation has reshaped knowledge work. It's time the physical world got the same leap forward. That's what we've been building at Augmodo: AI assistants that bring real-time intelligence to the people working in the physical world.
Today, I'm excited to share that we've raised an additional $21M financing, led by our existing partners at TQ Ventures, at a $350M valuation.
We weren't raising, but TQ saw our traction and came to us wanting to double down. We were excited to accelerate and follow the market pull beyond our initial go to market to build out our vision of augmenting the physical workforce with physical AI tools. An enterprise's best asset is its people, and our human-powered AI is built to dramatically enhance the workforce rather than replace it.
Augmodo is building the perception layer powering AI assistants to understand the 3D space to help enable real people in the real world they operate in, and not just another dashboard.
Picking up a cereal box in a grocery aisle is the same technology as picking up a wrench on a factory floor. Both require a computer to understand a person, a hand, an object, and the physical space in real time. Because we capture this perspective seamlessly and passively, Augmodo has become a leader in egocentric data, AI that sees the world through the user's eyes.
Augmodo's Smartbadge is lighter than an iPhone Air, passively worn as part of the uniform, and is an "everything tool" that provides real-time, spatial insights and guidance for the people moving our physical economy, across retail, logistics, warehousing, and industrial supply chains.
Augmodo's go to market was in the acute problem of retail inventory. We used spatial computing and wearable Smartbadges to automate shelf-tracking – a tedious, time consuming and data-heavy task.
But as our devices deployed globally, massive market pull took over. Customers expanded past retail shelves to deploy Augmodo across their entire physical environment, utilizing the platform to locate misplaced displays, audit warehouse pallets, coordinate teams via built-in walkie-talkies, and support real-time maintenance and delivery.
Spatial AI in Action: During a recent location mapping deployment, an associate who typically required 2 full hours to manually map and log inventory across the floor completed the entire spatial mapping process in under 10 minutes using Augmodo.
This new funding is a direct result of our team's execution and the rapid adoption of our platform. Over the past year, Augmodo has significantly outperformed its internal projections across core enterprise metrics:
Building an AI assistant that works seamlessly in dynamic, messy, real-world environments is incredibly challenging. But that's where the highest value lies.
This capital gives us the runway to aggressively expand our global enterprise footprint, invest deeply in our core AI models, and scale our engineering team.
We are hiring. If you are a builder who wants to solve hard computer vision problems and ship AI that actually touches the physical world, check out our open engineering and product roles here.