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General Inspection, LLC

Conference: DEMO Spring 2010
Market Segment: Enabling Technology
Funding Amount: $5,000,001-$10,000,000
Funding Round: Angel
Funding Details: Working capital loan of $8 million through MNP Corporation.
Competitors: No direct competitors.
Product Description: Li’l Magic is a part-identification system with patented, precision laser/optics. This system will be utilized in hardware stores to provide pricing and inventory control for all loose components that currently require either expensive and ineffective barcode labels or time-consuming chart look-ups that are subjective and prone to human error.
Market Opportunity: With over 15,000 hardware stores and an average of five checkout counters per store, we predict the potential market will be $450 million in the U.S. alone.