Bellevue-based inventory tech company Nomad Go has raised $1.5 million.
Co-founder and CEO David Greschler confirmed the raise through email on Friday to the Business Journal. GeekWire first reported the news.
Nomad Go was founded in 2017, according to the company's LinkedIn page. The company's software pairs with a smartphone or tablet, allowing users to scan inventory on a shelf and instantly get a count. Using both augmented reality and computer vision, the technology has a 99% count accuracy rate, the company says.
On its website, Nomad Go says its technology works with front-of-house, back-of-house and retail settings. The company also works with delivery pallets.
Greschler spent about five years with Microsoft earlier in his career, according to his LinkedIn page, and held the role of director of virtualization and cloud computing. He founded a company called Softricity that Microsoft acquired in 2006. Nomad Go's other co-founder is Jonah Friedl, who also serves as the company's chief product officer.
Nomad Go has 13 employees listed on LinkedIn. Greschler said in an email to the Business Journal the company has an office in Bellevue.
Nomad Go is one of a number of local companies to have raised funding rounds of $10 million or less in recent months. Seattle-based artificial intelligence company Defined.ai raised $3.3 million in debt and other securities, according to a January filing with the Securities and Exchange Commission. Stealth Seattle startup Avante, meanwhile, raised $10 million in January, and Seattle-based biotech Proniras Corp. raised $4.6 million in December.
According to recent data from PitchBook Data and the National Venture Capital Association, pre-seed and seed deals nationally dropped to $14.6 billion in 2023 from $24.2 billion in 2022. U.S. startups in general landed $170.6 billion across 15,766 deals in 2023, down from $242.2 billion across 17,592 deals in 2022 and $348 billion across 19,025 deals in 2021, which was a record year.
