Portal Technologies

Portal Technologies
North Carolina State University

Of the nearly 30,000 new product launches each year, more than 80% of them fail due to the high Consumer-Acquisition-Costs. To get into Brick and Mortar (B&M) spaces such as Kroger, consumer packaged goods companies (CPG) pay retailers up to $250,000 in shelving costs, provide wholesale product discounts, and compete with the thousands of other products on shelves. A CPG company could alternatively sell product online directly to customers. However, this model makes distribution a lot more complicated and requires huge digital marketing costs. In order to succeed, CPG products must be placed where the core shopper is. Over 70% of shoppers make purchasing decisions at the location of the products. At Portal Technologies, we asked ourselves a simple question: what if we sell products directly where the target audience will be? For example, we could sell sunscreen at a pool, protein shakes at a gym, toothpaste at an apartment, etc. Portal Technologies is building a counter-top retail platform that allows brands to reach their target audiences through host curation. By monetizing unused spaces in gyms, pools, libraries, etc. Using computer vision that detects, classifies, tracks, and charges for objects, Portal machines allow nearly any object to be sold. To buy from a Portal machine, all a consumer would have to do is swipe their card, open the door, take items, and enjoy. Portal aims to hyper-localize retail and help products market and sell directly to where their core audience may utilize the product.

Malay Shah
Hartley Leroy
David Lovato
David Schuler
Goutham Subramanian