Pensa Systems raises $10 million to deploy inventory-tracking drones in retail stores

Figuring out which products are in stock and which stock is likely to run low is a never-ending battle, as shoppers spend an estimated 40 billion hours picking things off shelves. It's also error-prone -- employees regularly misplace an estimated one in 10 items, contributing to global retail revenue losses exceeding $1 trillion. But drones hold the answer to the inventory tracking problem, if you ask serial entrepreneur Richard Schwartz. So strong is he in this conviction that he cofounded Pensa Systems, which develops inventory systems equipped with computer vision algorithms that "understand" what's on store shelves. The Austin startup today announced the close of a $10 million follow-on seed funding round that brings its total raised to $17.2 million, and according to investor and Pensa advisory board member James McCann, the future is looking bright.