Norditech’s LabelDetector is here to automatically scan and track products in warehouses with the help of AI. In 2022, they pitched at Siemens Energy during the IndX pitch day and now, they are taking the next big step by working on a proof of concept in collaboration with Toyota Material Handling, alongside venturing into generative AI.
By incorporating Norditech’s AI cameras in warehouses, the system enables automatic scanning and tracking of products and pallets, facilitating real-time inventory management. This allows businesses to effortlessly monitor stock levels, locate items within the warehouse and stay informed about necessary restocking.
“Norditech is a small and agile company that helps us explore the application of camera technology in various industrial and logistical processes, particularly in inventory management and pallet handling,” says Fredrik Wigh at Toyota Material Handling.
Proof of Concept with Toyota Material Handling
Having a strong value and delivering that in a great pitch, Norditech and Toyota Material Handling are now collaborating on a proof of concept where LabelDetector will be tested on robots and trucks in Toyota Material Handling’s warehouse.
“We were already aware of our customers’ and our own factories’ interest in streamlining logistics processes, specifically focusing on inventory management. Norditech had expertise in those areas that we were keen to learn more about,” says Fredrik.
The cameras are equipped with PTZ (pan-tilt-zoom) technology, removing the need for a large number of cameras. With the ability to identify and read text up to 30 meters, the cameras offer enhanced functionality while minimizing the camera count.
At the moment, Norditech is alongside planning how to seamlessly integrate generative AI tools and intelligence into their existing solutions for their clients. One such integration possibility is with the LabelDetector system.
“With this integration, the system could provide valuable insights such as inventory balance, automatic updates, and even analyze stock levels while offering its own optimization suggestions. This revolutionary approach will transform the manufacturing industry by optimizing operations, saving both time and money,” explains Philip.
Direct contact with decision-makers
Norditech was recommended to apply for IndX by Jönköping Science Park’s incubator program. They saw it as an excellent opportunity to connect with large industrial companies and make a breakthrough in the industry.
The digital application and in-person pitching at IndX allowed startups to easily engage with relevant decision-makers, streamlining the process of forming partnerships. In Norditech’s case, they received prompt interest from Toyota Material Handling and swiftly connected with decision-makers, leading to a rapid progression after the pitch day.
“I believe that we have the potential to open up an entirely new market and sales mindset for Toyota. Historically, breaking into this market has been challenging. However, our solution has broad applicability across different companies, and we aim to assist them internally and externally,” says Philip.
Philip recommends applying startups to be clear and tailored in their pitch for a partner company. It is not about pitching to a wide audience; rather, it requires a specific approach to capture the interest of potential partner companies. By presenting a concise and compelling message that aligns with the target company’s needs and goals, startups can increase their chances of forming successful partnerships.
Don’t forget to apply for the next IndX pitch day in Väderstad on September 5. Apply before the 1st of August.