Industry: RFID inventory systems
RFID systems allow for the precise tracking of merchandise through its journey from creation to retail. Despite reducing incidents of loss or theft, these systems have long been too expensive to all but the largest warehouses and retail corporations.
SenseLynnx is pioneering the next generation of RFID systems, providing enhanced location accuracy and adding orientation tracking while lowering costs significantly. The company’s 5.8GHz RFID technology can be paired with mobile readers that automatically map items in large warehouses for continuous accurate inventory control.
Extensive on-site interviews have verified that SenseLynnx’s RFID tag system can reduce search costs by $7,000 per month in warehouses larger than 500,000 sq ft. The passive 5.8GHz tags are activated by incoming radio frequency, removing batteries from the equation. Location is achieved within 5cm in 3D space, giving warehouse managers unparalleled vision of their spaces.
The total serviceable addressable market is believed to be $10.5 billion. With roughly 10 competitors in the sector, SenseLynnx’s serviceable obtainable market is estimated to be $1.1 billion.