• Home
  • News
  • Startups
  • Innovation
  • Industry
  • Business
  • Green Innovations
  • Venture Capital
  • Market Data
    • Economic Calendar
    • Stocks
    • Commodities
    • Crypto
    • Forex
Facebook Twitter Instagram
[gtranslate]
Facebook Twitter Instagram YouTube
Innovation & Industry
Banner
  • Home
  • News
  • Startups
  • Innovation
  • Industry
  • Business
  • Green Innovations
  • Venture Capital
  • Market Data
    • Economic Calendar
    • Stocks
    • Commodities
    • Crypto
    • Forex
Login
Innovation & Industry
Venture

Deal Dive: Can AI fix lost and found?

News RoomNews RoomJanuary 27, 2024No Comments2 Mins Read

Losing stuff sucks. It’s even more frustrating when something isn’t really lost, but rather left behind in a location, like an airport or sports stadium, which makes it hard to get back. My friend Caitlin knows this all too well; she’s yet to be reunited with the phone she lost at Oktoberfest on September 27, despite confirming in November that they have it.

While Oktoberfest is a more extreme example, people leave a lot of things behind in hotels, on transportation and at events. For example, the MTA transit system in New York collected more than 18,000 lost items from 2018 to 2023 — and that time includes when people were sheltering in place for the pandemic. Boomerang thinks AI can fix lost and found.

The Miami-based startup built software that uses machine learning to match pictures and descriptions of lost items. Customers, which can range from gyms to theme parks, upload pictures and descriptions of their lost and found while consumers do the same for the item they’ve lost. If there is a match, consumers can choose to pick up their items or have them shipped.

This model hopes to get consumers their items back faster while replacing the current system of people calling customer service desk phone lines repeatedly for updates on their items, according to Boomerang co-founder and CEO Skyler Logsdon.

Read the full article here

Related Articles

Bay Bridge Ventures is raising $200M for a new climate fund, filings show

Venture April 16, 2024

Betaworks bets on AI agents in latest ‘Camp’ cohort

Venture April 16, 2024

Evolution Equity Partners raises $1.1B for new cybersecurity and AI fund

Venture April 16, 2024

Design firm Zypsy will do $100,000 worth of work for 1% equity for early-stage startups

Venture April 16, 2024

SOSV founder says climate investing is a ‘war effort’ as firm closes $306M fund

Venture April 16, 2024

Two Chairs raises $72M Series C in equity and debt to scale its therapist network

Venture April 16, 2024
Add A Comment

Leave A Reply Cancel Reply

Copyright © 2025. Innovation & Industry. All Rights Reserved.
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.

Sign In or Register

Welcome Back!

Login to your account below.

Lost password?