Gather AI, a prominent player in the autonomous inventory management space, has made a significant move by acquiring Ware, another key player in the industry. This acquisition cements Gather AI's position as the market leader, boasting a customer base of 25 organizations spanning various sectors, including 3PLs, manufacturing, retail, and food and beverage. With this strategic move, Gather AI is better equipped to meet customer demands in the rapidly expanding autonomous inventory management market.
Gather AI's solution revolves around providing real-time inventory visibility through its AI software, which transforms ordinary drones into autonomous data-gathering machines. By acquiring Ware's business, Gather AI can further accelerate its growth, expanding its proven solution to more warehouses and enabling customers to leverage valuable data insights from its growing network.
The functionality of Gather AI's solution involves autonomous drones navigating through warehouses and capturing images of pallet locations. The AI software analyzes these images, reading barcodes, text, and other information, and compares it with the warehouse management system (WMS) data. Warehouse managers can access real-time inventory data through a web dashboard, gaining a comprehensive view of their warehouses.
Customers who have adopted Gather AI's solution have witnessed remarkable results, including a reduction in inventory counting staff from six to one, the discovery of $1 million worth of lost inventory, a significant decrease in full facility scans from 90 days to just 2.5 days, and a boost in revenue accompanied by increased customer satisfaction.
Ware's customers are eager to transition to Gather AI's solution. Jeff Keene, COO of DPI Specialty Foods and a former Ware customer, expressed his enthusiasm, stating,
"After evaluating the proven technology and witnessing the tangible benefits experienced by Gather AI customers, we wholeheartedly agreed to implement their solution in three of our warehouses. We are excited to begin the deployment and leverage the advantages it offers."
Gather AI experienced an eight-fold increase in revenue over the past year, and this growth is anticipated to further accelerate. The global warehouse market is projected to achieve a compound annual growth rate (CAGR) of 7.7% and reach a value of USD 1.26 trillion by 2030. Warehouse operators are undergoing a rapid transformation of their supply chains, with 71% reporting a shift in the way they manage inventory. To keep pace with these changes, operators are intensifying their digital transformation efforts.
Current Ware customers can expect a seamless transition as they are integrated into the Gather AI platform in the coming weeks. The combined Ware and Gather AI teams will provide comprehensive support throughout the integration process, ensuring a smooth and successful transition for all parties involved.
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