VideoMining’s At-Shelf Packaging Platform Receives Investment from Ben Franklin Technology Partners
VideoMining Corp., the leading provider of in-store behavior analytics, is pleased to announce that it has received approval for an investment from Ben Franklin Technology Partners of Central and Northern Pennsylvania, Inc. in a new at-shelf packaging insights platform.
The platform, nicknamed ASPIRE (At-Shelf Packaging Insights, Redesign, and Evaluation), will increase VideoMining’s ability to unobtrusively collect in-depth data on real shoppers’ responses to packaging materials and other merchandising tools at the shelf. ASPIRE technology will utilize powerful sensors and behavior recognition software to completely automate at-shelf data collection, providing improved understanding of these difficult to capture behaviors at a tremendous cost saving for users.
“We are very excited about this investment from Ben Franklin Technology Partners,” noted Rajeev Sharma, VideoMining’s Founder and CEO. “Packaging and other at-shelf stimuli are incredibly important in communicating with shoppers and convincing them to buy. Thanks to this generous investment, ASPIRE will extend our understanding of behavior at the shelf and help us calculate the impact these communication methods are having during the moment of truth.”
The ASPIRE platform will be developed by VM Labs, VideoMining’s research and development division, which holds multiple patents on methodologies utilizing software to extract large samples of behavioral data from video. Video shopper tracking has a long, proven history of accuracy, and offers great flexibility for achieving insights on a variety of key in-store behavioral metrics, including exposure, engagement, and purchase.
Ben Franklin Technology Partners, an initiative of the Pennsylvania Department of Community and Economic Development and funded by the Ben Franklin Technology Development Authority, provides funding, operational assistance, and entrepreneurial support to emerging tech-based companies and small, existing manufacturers for the purpose of creating and retaining jobs in Pennsylvania.
For more information on the ASPIRE platform, VideoMining, or VM Labs, please contact us at 1-800-898-9950, info@videomining.com, or at our website www.videomining.com. For more information on Ben Franklin Technology Partners, contact 814-863-4558 or its website www.cnp.benfranklin.org.
