Dive Brief:
- VenHub, a developer and manufacturer of automated convenience stores, went public through a direct listing on the Nasdaq exchange on Jan. 30, according to a company announcement.
- VenHub’s Smart Stores use robotics to power unattended convenience stores. It currently has locations operating in Los Angeles Union Station and the LAX Metro Transit Center and has a production facility in its home city of Las Vegas.
- Ian Rasmussen, who helped spearhead Amazon’s Just Walk Out retail technology, has joined VenHub as executive vice president of global expansion and partnerships. VenHub announced the hiring on Monday, though Rasmussen took the role in October, according to his LinkedIn profile.
Dive Insight:
VenHub’s stores operate 24 hours a day and are unstaffed, requiring workers mainly to restock.
The company is looking to expand both the number of stores and the technologies found inside those locations. VenHub is in the process of acquiring patents on more than 20 technologies in areas like robotics, automation and store operations, according to the announcement of its IPO. Future features will include digital advertising panels, flexible packaging compatibility and a smaller format of the Smart Store meant for urban locations.
Shares of the firm will trade under the ticker VHUB.
Before joining VenHub, Rasmussen spent more than a decade with Amazon’s cloud computing arm, Amazon Web Services, where he helped expand the company’s Just Walk Out technology to retailers and other operators.
Rasmussen will be instrumental in the company’s plans to accelerate its growth and deploy more Smart Stores across North America, according to the release.
“As we scale, commercial discipline and operational readiness will play a key role in our ability to achieve our growth goals,” said VenHub Founder and CEO Shahan Ohanessian. “Ian brings deep experience turning advanced retail technology into repeatable, revenue-generating deployments at enterprise scale. His leadership will be critical as we execute on our strategies to expand our footprint with major operators and partners.”
In his role, Rasmussen is responsible for forging new deals, onboarding new operators and scaling go-to-market execution. He reports to Ohanessian.
Before Amazon, Rasmussen worked in sales and business development for a variety of companies, including software firm Cisco and Internet of Things firm ThingWorx, according to his LinkedIn bio.
“As more national brands look to modernize their footprint and customer experience, I look forward to building the partnerships that will help extend VenHub’s reach and impact,” said Rasmussen.
