ThruWave, the pioneer of 3D millimeter wave (mmWave) imaging for supply chain and logistics, has raised $6.4 million in Series Seed funding.
The funding round was led by E14 Fund and Ubiquity Ventures, and joined by Root Ventures, Blue Sky Capital, WRF Capital, and Tsingyuan Ventures.
In-Q-Tel, a not-for-profit strategic investor for United States Government agencies, joined the round as an investor and customer. ThruWave was additionally awarded a $750,000 Phase II Small Business Innovation Research (SBIR) grant from the National Science Foundation to accelerate the development of its unique millimeter wave technology.
ThruWave’s high throughput X2 mmWave Imaging System provides unprecedented supply chain visibility by enabling warehouse and fulfillment center operators to see through packaging to the items inside. Unlike existing X-ray inspection systems, ThruWave’s sensors use human-safe millimeter waves to enable safe operation alongside human workers in busy warehouses and fulfillment centers. ThruWave’s analytics layer automatically interprets images to measure cube utilization, count items, and detect missing or damaged items, all at conveyor speed. ThruWave systems can automatically image and analyze up to 20,000 boxes per hour.
“ThruWave makes the invisible visible”, said ThruWave founder and CEO Matt Reynolds. “Our sensors do what existing cameras can’t do – we see through cardboard boxes and plastic totes to look at the items inside. We also detect anomalies such as missing or damaged items. Our computer vision layer analyzes the images to extract critical process variables like item counts, or fill volumes. We enable our customers to dramatically improve accuracy and efficiency in their warehousing and order fulfillment operations.”
“ThruWave’s groundbreaking millimeter wave technology addresses major pain points in both automated and manual material handling operations,” said Calvin Chin, Managing Partner of E14 Fund. “Industry-wide, it is estimated that a typical e-commerce shipment is only 40% full, leading to tremendous waste in packaging material, shipping cost, and carbon footprint. ThruWave’s unique sensors and software enable customers to regain control over their shipping cost and environmental impact.”
“ThruWave’s high-throughput millimeter wave sensors have the potential to enhance national security by enabling the detection of items concealed by packaging,” said Eileen Tanghal, Senior Partner at In-Q-Tel. “We are excited to partner with ThruWave to bring this ‘x-ray vision’ capability to government customers who need high throughput, human-safe screening of mail, packages, and other items in an easily deployed form factor.”