Augmodo raises $37.5 million Series A as it looks to accelerate bringing spatial AI to retail sector

Augmodo, a real-time inventory and task tracker using wearable Smartbadges to create live 3D store maps, has closed a $37.5 million Series A funding round.

This was led by TQ Ventures, with participation from existing backers Lerer Hippeau, NewFare, WIN and Interlace, who joined newcomer Arena Holdings - an investment firm founded by Feroz Dewan, former Managing Director at Tiger Global, as well as Jefferson River Capital - the family office of Tony James, former President and COO at Blackstone Group.

In a LinkedIn post, Ross Finman, CEO and Founder at Augmodo, said: “This will accelerate bringing spatial AI to the largest workforce on the planet: retail. Combining wearables plus AI with our Smartbadges is going to change the physical workforce just as much as AI is changing knowledge work today.”

“While there is a lot of excitement about the future across the industry, retail has the biggest physical data problems today and are very grounded applications solving out of stocks, inventory, safety, training, and more.”

He added: “We launched barely a year ago, and are now deploying to hundreds of stores worldwide in conjunction with some of the largest CPGs in the world. With that validation we are overwhelmed by the level of inbound interest from the rest of the market. Now we are significantly expanding the features and capabilities of our Smartbadges to further our mission of helping and enabling people in stores - building the augmented workforce (and more).”

“So appreciative to bring on Andrew Marks from TQ Ventures. I don't say this lightly, but it was was one of those rare experiences where things just clicked on ambition, focus area, and culture. And I am excited to say all of our seed funds doubled down in the round, and even our customers joined in after using Augmodo. We are aggressively growing now, so if you are interested in applied spatial AI with exceptional product market fit, where the data problems are at the same scale as self driving cars, come join us.”

2025 RTIH INNOVATION AWARDS

AI will be a key focus area at the 2025 RTIH Innovation Awards.

The awards. which will open for entries in April, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.