Countdown to Groceryshop 2019: Innovator Spotlight Profiles — Macondo Ventures
- The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas. The conference is expected to bring together over 3,000 attendees and more than 200 speakers.
- We’ll be talking about the transformation of the retail industry, shifts in consumer behavior and innovations that are helping retailers keep up with fast-changing consumer expectations.
- On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight session in which 20 innovative, early-stage technology companies (pre-Series A) will present solutions that solve major retail problems. The companies include: Adrich, Datasembly, ShopperMotion, Simporter, Oriient, Pick ‘n’ Watch, SuperUp, Tastry, Tiliter Technology, BrandChat, CoupDog, RetailAware, Shopperations, AGTools, Babylon, Gather AI, Leaf Logistics, Macondo Ventures, MeisterDish and Simplista.
In this report we profile Macondo Ventures, which offers camera-based software to track employee activity in distribution and fulfillment centers, then converts that information into insights for workflow optimization.
This report is part of our 2019 Countdown to Groceryshop: Innovator Profiles series. To view the other reports in this series, click here.
The Coresight Research team will be attending and participating in the Groceryshop 2019 conference, which runs September 15-18 in Las Vegas.
The conference is expected to bring together over 3,000 attendees and more than 200 speakers. Discussion topics will include the transformation of the retail industry, including convenience stores, supermarkets and e-commerce, and changes in the production and distribution of CPGs across multiple retail verticals.
The event also covers the rapid shifts in how consumers discover, shop and buy — from the use of new technologies and business models to the latest shopper trends.
Emerging Technology Spotlight Session
This is the second year the Coresight Research team will support Groceryshop’s early-stage technology startup event: On September 15, Coresight Research CEO and Founder Deborah Weinswig will emcee the Emerging Technology Spotlight, which features 20 innovative technology companies presenting their solutions to solve major retail problems.
Groceryshop selected the participating startups based on their solutions, looking for companies that solve some of the most pressing challenges in grocery, e-commerce, food and CPG. All participating startups offer business-to-business (B2B) solutions. Over 130 companies applied to present at the event: From that group, we selected the 20 using a rigorous vetting process.
These are some of the selection criteria:
- Early-stage, defined as pre-series A funding.
- Relevant to the grocery and/or CPG industries.
- B2B solutions (not consumer-facing).
- Scalable (good growth prospects).
- Highly innovative (deep differentiation).
- Important (solving a major industry problem).
The companies span several countries, although most are based in the US:
- US: 14
- Canada: 2
- Israel: 2
- Australia: 1
- Spain: 1
We categorized the 20 companies into four buckets of retail disruption:
Data and Insights: Digital technology is creating new metrics and capabilities to glean insights and understand the best way to meet and exceed customer expectations.
Improved Shopping Experiences: Shoppers demand intuitive and more seamless grocery experiences, both online and in-store. Grocery retailers face challenges in keeping their assortment up to date and in sync with fast-changing consumer demand.
Next-Generation Marketing: With so many different touchpoints and channels to reach consumers, engagement has become more complex than ever. There are also rapid shifts in how consumers discover, shop and buy. New marketing technologies help grocery retailers and CPGs engage and acquire customers.
Operations and Supply Chain: Over the next few years, new omnichannel grocery offerings will likely go mainstream, giving consumers new experiences as well as more convenient delivery and pickup options. Simultaneously, technologies such as robotics, AI and IoT are changing how grocery items move from producer to store to consumer.
Macondo Ventures at a Glance
Founded in 2019, Macondo Ventures’ proprietary software leverages machine learning to track employee performance in distribution and warehouse centers. The company uses off-the-shelf camera-based technology to passively track staff activity and evaluate overall performance by converting these activities into data insights. Management can use this intelligence to evaluate associate and supervisor activities against defined standards. The videos are converted directly to data to protect individual privacy. Macondo Ventures also provides benchmark data from similar operations and recommends specific areas for improvement.
The company’s camera-based activity tracking allows businesses to collect data to improve processes, for example:
- Cutting warehouse labor cost through productivity improvements.
- Automating tedious engineering tasks.
- Providing insights through data analytics.
- Providing peer benchmark reporting.
What Problem Does Macondo Venture Solve?
Retailers and manufacturers want to ensure warehouse and distribution center staff perform at their best, but accurately evaluating productivity is quite challenging. Macondo Ventures’ solution uses camera-based activity tracking to optimize workflow at distribution centers.
Founder and CEO Frank Layo has over 20 years’ experience in various industries and was a Partner Kurt Salmon prior to founding Macondo Ventures.
According to Macondo, US companies lose over $150 billion from their bottom lines every year due to rising operating costs. Employee theft costs US businesses $50 billion annually. The company believes the increased visibility delivered by camera-based activity tracking will help mitigate these rising costs.
The company recently launched a solution dedicated to hospitality businesses.