Radar, a technology company that provides a platform to support in-store inventory accuracy and location, has secured $30 million in a Series A funding round led by returning investor Align Ventures, along with The Ferrante Group, Future Archives and RX Ventures, which is the venture capital arm of South American retailer Lojas Renner. This brings Radar’s total funding to $63 million.
In April 2023, Radar announced a partnership with American Eagle that would bring the RFID and computer vision-powered technology to approximately 500 stores across the U.S. Radar plans to use the Series A funding to expand its customer roster as well as accelerate product development and hiring efforts across engineering, product and sales.
The Radar platform is designed to empower users, especially store associates, to track and locate in-store inventory with 99% accuracy, providing them with the inventory knowledge they need to consistently elevate the in-store customer experience, efficiently replenish products on the sales floor and fulfill BOPIS orders. For executive users at HQ, the platform provides robust analytics that help brands stock the right products in the right locations based on consumer demand.