Oculogx is a heads-up display technology for retailers

(upbeat music) – [Charu] We build smart
glasses tech for buy online pick up in store associates. So the people who have to go in the store, pick out your orders, when you order for online grocery pick up. – [Matt] Why do they need that? Why can’t they just use a smart phone app? – They can, but ours is 40%
faster and 80% more accurate, so they can get more efficient picking. – But how much more expensive? – So actually with everything, we can have a 175% IR over five years. Their hurdle rate’s about 30%. So, we have a payback period that’s like less than two years, and significantly higher than any other technology that they use. – I’ve never been a grocery picker. Take me through the process and what problem your product solves. – So, currently they use
big bulky handheld scanners, and so you have to wander around racks for 8 to 10 hours a day, carrying around a really bulky scanner, and searching through the isles for the items that you have to pick. So we essentially replace
the entire handheld, make it completely hands free and give visual cues on
what you should be picking. So that’s how it’s more efficient. – [Matt] Oh, that’s great. So when you actually use the product, what do you see? – [Charu] So it’s a heads up display, so it doesn’t intrude on your vision. You can see the entire
world in front of you, but as soon as you look up
there’s a little screen, and it gives you
directions and assistance. – [Matt] What data does your
start-up have that says people or this product is necessary
or needed in the market? – [Charu] So I’m an
internationally published augmented reality researcher and did work with the
inventor of Google Glass, so all of our work has been
based on a decade of research where we showed the
efficiency improvements compared to a lot of other methods. The accuracy improvements, so like I said 40%
faster 80% more accurate, most preferred method from
a user preference score. Least cognitive work load. – So Occu Logic pivoted earlier this year. – Yeah. – Tell me why you had to pivot, and what were you before? – So originally we were
doing e-commerce warehousing, which is great. But the real inside in
retail stories is that they’re becoming micro
distribution centers. So the tech and Dcs doesn’t
work in stores though, because there’s people walking around. So you can use automated
storage and retrieval systems, goods to persons systems, or picked a voice solutions like you can in Dcs, so it’s a completely different baseline. And, you know, there’s also the shifting
behavior of consumers. So 70% of US consumers are
expected to regularly purchase consumer packaged goods online, which shouldn’t happen a decade ago. And, online grocery, the market as a whole is growing at a 59% year over year rate. It’s gonna be worth 100
billion dollars by 2025. And it’s just a ton of
shifting consumer behaviors, but shifting market trends as well, and the fact that the
baseline’s completely different. That is, you know, the
cause of our traction. – How many people work at Occu Logic? – We have ten. – How long have you
guys been around total? – So we were initially
incorporated in May 2017. – And how much money have you guys raised? – So we’ve been primarily revenue funded, but we won Atlanta
start-up battle originally, and some other competitions
like the Microsoft Imagine Cup. We were finalists for USPTO competition, IT student prize, and stuff like that
while we were in college. – Well great, I hope you
have a great time at Disrupt, thanks for coming by. – Thank you.

, , , , , , , , , , , , , , , , , , , , , , , , , ,

Post navigation

8 thoughts on “Oculogx is a heads-up display technology for retailers

  1. Hold on… isn't that just google glass with an app? Also, hot tip for the sales person: repeating again "40% more faster, 80% more accurate, pays for itself in 2 years" just sounds dishonest and looses you credibility.

  2. Least amount of cognitive load??? Means itll make you stupider, bc you have to use your brain less, and over time your iq will be that of a celery. Fk that,

  3. This is literally what google glass 2 does, its enterprise focused and does the same, but few companies use it. Also that pivot, sounds like they are just throwing things at the wall to see what sticks

Leave a Reply

Your email address will not be published. Required fields are marked *