1Newmine, a Boston-based retail technology company, has been selected as a finalist for Red Herring’s Top 100 North America award, one of the technology industry’s most prestigious prizes.
Previous Top 100 finalists have included Alibaba, Facebook, Google, Skype, SuperCell, Spotify, Twitter, and YouTube. “We are honored that Newmine has earned a place among such a high caliber of technology innovators,” says Newmine CEO and Founder, Navjit Bhasin. “Our solution, Chief Returns Officer, is an AI-powered product returns reduction platform that empowers retailers to enhance their profitability as well as environmental sustainability.”
Returns have risen to become one of retail’s most expensive problems, as the overall value of returned merchandise in the United States is projected to reach $350B by 2023. Globally, that number is projected to reach $760B. “The retail industry is ripe for disruption in this area,” added Bhasin. “Returns intelligence supports all areas of the retail business across the product lifecycle.”
The Top 100 North America has become not only a springboard for some of tech’s biggest names, but a valued and trusted tool for venture capitalists, experts, and analysts predicting trends at the industry’s sharpest edge.
“Selecting finalists for this year’s Top 100 has proved more difficult than ever,” said Alex Vieux, publisher and chairman of Red Herring. “North America has been tech’s beating heart for years–but never have I seen such an exciting, disruptive and innovative generation as we have in 2020.”
“Newmine fully deserves its place among our finalists, and I’ve every confidence it will make a significant impact in the tech world,” added Vieux.
Newmine is presenting their winning strategies at the Red Herring Top 100 North America conference on Nov 18, 2020. The Top 100 winners will be announced after all the presentations at the Top 100 Forum.