Six months after launching, RetailReady is currently onboarding six customers and has raised $3.3 million in seed funding. The funding round was led by Wischoff Ventures and included Y Combinator, 640 Oxford, Lombardstreet Ventures, Duke Capital Partners, and a group of angel investors. The funds will be used to hire additional employees and focus on product and technology development.
Key takeaways:
- RetailReady, a startup founded by Elle Smyth and Sarah Hamer, is developing a tablet app to replace paper warehouse manuals, aiming to reduce the $40 billion compliance market losses incurred by shippers due to incorrectly shipped packages.
- The app uses AI technology, including large language models to understand shipping requirements and computer vision to validate compliance.
- RetailReady is currently onboarding six customers and works with brands, warehouses, and retailers. The digital version of the manuals provides workers with a directed workflow on how to correctly pack an order.
- The company has raised $3.3 million in seed funding from investors including Wischoff Ventures, Y Combinator, 640 Oxford, Lombardstreet Ventures, Duke Capital Partners, and a group of angel investors.