Total amount raised
$34.1 Million
Latest funding date
3/1/2024
Location
Gather AI has successfully raised funding over 7 rounds, with the latest being a Series A round involving 5 investors, including Bain Capital Ventures as a lead investor. The company specializes in software-only automated inventory monitoring solutions for modern warehouses.
Keep reading to explore the intricacies of Gather AI's fundraising journey and the investors backing this innovative platform.
What Is Gather AI?
Gather AI, based in Pittsburgh, Pennsylvania, specializes in AI-driven automation solutions for intralogistics optimization. The company operates in the industries of Artificial Intelligence, Drones, Robotics, and Software, providing software-only automated inventory monitoring solutions for modern warehouses.
Founded by a team of experts, Gather AI employs between 11-50 people. Their technology includes computer vision, AI-powered drones, and inventory intelligence, designed to improve inventory accuracy and operational productivity without requiring infrastructure changes.
How Much Funding Has Gather AI Raised?
- Pre-Seed Round
- Amount Raised: USD 90,400
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial prototype and validate the concept of AI-powered inventory monitoring.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To attract early customers and refine the technology based on initial feedback.
- Seed Round
- Amount Raised: USD 2,475,000
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the AI capabilities of their drones.
- Seed Round
- Amount Raised: USD 975,000
- Date: April 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Seed Round
- Amount Raised: USD 3,527,500
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the customer base.
- Series A Round
- Amount Raised: USD 10,000,000
- Date: October 2022
- Lead Investors: Tribeca Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the technology platform.
- Series A Round
- Amount Raised: USD 17,000,000
- Date: March 2024
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and continue expanding the customer base by solving supply chain issues with richer data and AI.
Total Amount Raised: USD 34,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Bain Capital Ventures
- Details: Bain Capital Ventures is a leading venture capital firm that invests in early to growth-stage startups. They have a significant presence in the venture capital industry and are known for their involvement in various funding rounds.
- Investment Focus Areas: AI, software, fintech, healthcare, technology-driven sectors.
- Notable Investments: Kiva, ShipBob, FourKites, Vention.
- Tribeca Venture Partners
- Details: Tribeca Venture Partners is a venture capital firm that focuses on early-stage technology companies. They are known for their strategic investments in innovative startups.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: ACV Auctions, CommonBond, Honey.
- Dundee Venture Capital
- Details: Dundee Venture Capital is a venture capital firm that invests in early-stage technology startups. They have a particular focus on companies based in the Midwest.
- Investment Focus Areas: Technology startups, particularly in the Midwest.
- Notable Investments: Divvy, Flywheel, Hudl.
- Expa
- Details: Expa is a startup studio and venture capital firm that helps founders build and grow companies. They leverage their studio model to provide strategic support to startups.
- Investment Focus Areas: Technology startups, consumer and enterprise software.
- Notable Investments: Uber, Foursquare, Reserve.
- Bling Capital
- Details: Bling Capital is a venture capital firm that invests in early-stage technology companies. They focus on innovative solutions and disruptive technologies.
- Investment Focus Areas: Early-stage technology companies, software, internet sectors.
- Notable Investments: Not specified in the sources.
What's Next for Gather AI?
Gather AI stands at the cusp of significant growth opportunities. With the recent $17 million funding, the company is poised to scale its operations and attract more customers by solving supply chain issues with richer data and AI. The potential to expand into third-party logistics, manufacturing, and retail facilities is immense, given the increasing adoption of AI and automation in these sectors.
Future fundraising opportunities appear promising as the company continues to demonstrate rapid growth and market demand. Additional Series funding rounds or strategic investments from venture capital firms are likely, supporting further scaling and technological advancements. However, challenges such as competition from other AI startups and integration with existing warehouse management systems may arise. Ensuring the reliability and scalability of their technology will be crucial as they navigate these hurdles.
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