“I love partnering with retailers to transform their stores. Retailers are pushing harder than ever before to adopt Computer Vision and AI at scale, and Focal is here to help. At a time when supply chain issues, organized retail crime, and labor shortages continue to challenge the retail industry, merchants are still relying on outdated and inaccurate Sales-based PI systems that just do not work. Approximately half of the out-of-stock items on a grocery store’s shelves are not related to supply chain issues or labor shortages – they’re a result of Sales-based PI systems not accurately capturing data. Focal solves this,” said Francois Chaubard, CEO of Focal Systems.
“Focal Systems has developed a unique platform to help the world’s biggest and most well-known retailers automate and optimize retail operations to truly maximize cash flows through improved inventory, supply chain, and labor efficiency,” said Sri Chandrasekar, Partner at Point72 Ventures. “We believe Focal’s AI will play a vital role in the transformation of retail.”
Source: Focal Systems Raises $25.8M in Series B Funding to Automate Retail Globally, Press Release