Austin tech startup Pensa Systems raises $2.2M

Austin-based Pensa Systems, a startup that is building tech to automate the shelf restocking process for retailers and manufacturers, has raised $2.2 million to continue its growth, the company said Tuesday.

The $2.2 million funding is the first significant funding round for Pensa Systems.

It was led by Austin-based ATX Seed Ventures, an early stage venture capital firm specializing in Texas, and New York-based ZX Ventures, the company said.

The funding will be used to accelerate product development, Pensa Systems said in a news release.

“Pensa’s approach is truly novel,” Patrick O’Riordan, a vice president at ZX Ventures, said in a written statement. “Its unique combination of expertise and technology tools — including scalable AI — provides an opportunity to make both timely and significant impacts to out-ofstock throughout the industry.”

Founded in 2016, Pensa Systems is building predictive technology for retailers’ shelf space. The privately held company said its tech will help retailers and manufacturers track inventory better than current systems, which they said often rely on humans to check inventory.

A company spokesperson declined to provide further details on Pensa Systems’ technology, since it is still in trial stage. It’s unclear when it will be market-ready.