# Cognitive Operational Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cognitive-operational-systems

- Industry: Software
- Headquarters: Philadelphia, US
- Website: www.cosyrobo.com
- Total disclosed funding: $2.6M
- Latest round: Series A (Feb 16, 2017)
- Investors on record: 4

## About

Cognitive Operational Systems, Inc. is a robotics company delivering innovative automated solutions for inventory management in retail, leveraging advanced technologies to enhance operational efficiency and optimize customer experience.Founded in 2012 in Philadelphia, US, Cognitive Operational Systems, Inc. specializes in robotics solutions for inventory management. The company was co-founded by Jonas Cleveland and Kostas Daniilidis. The latest funding occurred through a Series A round in February 2018, raising USD 2.40 mn from investors including Ben Franklin Technology Partners, GreatPoint Ventures, Intel Capital, and Safeguard Scientifics. This funding round was significant as it represented the total amount raised by the company, which includes three distinct deals.CosyRobo specializes in providing advanced robotics solutions aimed at improving inventory management in retail environments. Their core product, the SCOUT robot, employs artificial intelligence and machine vision technology to autonomously navigate stores and conduct frequent, accurate shelf surveys. This technology is designed to minimize stock-outs, enhance planogram compliance, and free up staff for customer service tasks. The SCOUT robot's automated product scanning and mapping capabilities require no setup, making it a user-friendly solution for retailers. CosyRobo primarily serves a diverse client base within the retail sector, including supermarkets, convenience stores, and large retail chains, with a presence in North America and Europe.CosyRobo generates revenue through a subscription-based model, where clients pay for the deployment and ongoing use of the SCOUT robots. The structure of these transactions typically involves long-term contracts with retailers, allowing for predictable revenue streams. Retailers may choose from various plans depending on the frequency of surveys they require and the number of robots deployed across their operations. The flagship SCOUT product is central to these agreements, providing clients with consistent data and insights that lead to improved inventory management and reduced losses from out-of-stock situations. Pricing details for specific service tiers are proprietary, aligning with the company's strategy to cater to diverse retail needs effectively.Cognitive Operational Systems, Inc. aims to expand its product offerings and market reach in the coming years. The company is currently developing new enhancements for the SCOUT robot to improve its efficiency and capabilities. Plans to enter additional markets, particularly in Europe and Asia, are targeted for completion by 2025. The recent funding from the Series A round will be allocated to support research and development for product innovation and to increase marketing efforts in these new regions.

## Funding rounds

- Series A, Feb 16, 2017, $2.4M — Safeguard Scientifics, Intel Capital, Ben Franklin Technology Partners, GreatPoint Ventures
- Seed, Nov 9, 2016, $0.2M — Ben Franklin Technology Partners

## Investors

- Ben Franklin Technology Partners (https://capitalatlas.ai/funds/ben-franklin-technology-partners) — Seed, Series A
- Safeguard Scientifics (https://capitalatlas.ai/funds/safeguard-scientifics) — Series A
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series A
- GreatPoint Ventures (https://capitalatlas.ai/funds/greatpoint-ventures) — Series A