iPickup UPS access point (Photo: Business Wire)
Position Imaging, a Stratham-based developer of location tracking technology, has raised $30 million via intellectual property (IP)-based debt financing. The capital was provided by GT Investment Partners (Ghost Tree Partners) to help drive Position Imaging’s growth into the retail, hospitality, and travel markets while expanding into the European Union with its global partners network. Position Imaging developed the Smart Package Room and iPickup platforms providing self-service operations that do not require staff, lockers or robots.
The Smart Package Room is a package management system that uses proprietary AI-based computer vision developed by the company to track packages as they are delivered into rooms at multi-family residences, college campuses, and office locations. Smart Package Room enables self-service drop-off and pickup.
Inside a Smart Package Room (Photo: Business Wire)
iPickup is a new platform from Position Imaging based on the same self-serve tracking technology used in Smart Package Room solution but is focused on eCommerce fulfillment for retail brick and mortar stores. The company launched its first unmanned iPickup Point for PUDO (Pick Up Drop Off) Access Points with UPS this year in the United Kingdom. and is now expanding into the EU, starting with a large retailer in France in Q4, 2023.
“When we started on this journey, most people scoffed at the notion of letting a computer manage and secure package deliveries vs. a human or a locker. Today, after over 2 million successful self-serve package transactions without theft, we have proven this new AI-based approach works better than the old way of managing deliveries,” says Ned Hill, CEO of Position Imaging. “We are now ready to expand quickly.”