Radar Raises $30M in Series A Funding

Radar, a New York-based provider of a technology platform that combines RFID and computer vision technology to track and precisely locate in-store inventory, raised $30M in Series A funding. The round, which brought the total amount to $63M, was led by returning investor Align Ventures, with participation from RX Ventures, which is the corporate venture capital fund of South American retailer Lojas Renner, Ferrante Group, Future Archives, and Leeds Holding. The company intends to use the funds to expand its customer roster, accelerate its product development efforts, and hire engineering, product and sales talent. Led by Spencer Hewett, Founder and CEO, Radar offers a proprietary hardware and software platform that uses RFID and computer vision to track and precisely locate in-store inventory in near real time with accuracy, empowering store associates with the knowledge they need to provide an improved customer experience and enabling brands to ensure each store has the right inventory in stock each day. In addition, RADAR is currently piloting its platform with two other Fortune 500 retailers.