W5 Networks
Electronic shelf label systems for the retail industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | $4.0m | Convertible | |
| Total Funding | 000k | ||
W5 Networks, founded in 2005 by Charles Neugebauer, developed wireless applications tailored for the retail industry. The company's core offering was an electronic shelf label (ESL) system designed to digitally display and update price information on retail shelves. This technology provided retailers with a dynamic pricing capability, simplifying the process of implementing short-term promotions and executing price optimization strategies compared to traditional paper-based tags.
The system's functionality was based on a proprietary low-power radio frequency (RF) system that enabled two-way communication between the electronic labels and in-store access points. On October 24, 2005, W5 Networks secured $10 million in a Series A funding round. The round included participation from three institutional investors: USVP, Pinnacle Ventures, and Thomas Weisel Venture Partners. Subsequently, the company was acquired by Store Electronic Systems S.A. (SESA), marking its exit.
Charles Neugebauer served as the Founder and Chief Technology Officer. The position of CEO was held by Joel Dedrick. W5 Networks operated in the smart retail solutions market, specifically targeting brick-and-mortar retailers seeking to modernize their pricing infrastructure. Keywords: electronic shelf labels, retail technology, dynamic pricing, price optimization, wireless applications, radio frequency systems, retail infrastructure, store automation, in-store technology, SESA acquisition