Sunit Saxena was a former employee of a microprocessor firm but left it to revolutionize the way we know shopping today. Saxena created the company Altierre which computerizes shelf labels at grocery stores allowing grocers to change prices over a wireless network.
Saxena first thought of the idea when shopping in the middle of the night looking for wonton wrappers. He saw a group of employees working in a back room tearing price tags off merchandise to reprice it for the next day. Saxena immediately thought there was a better way of doing this. That is when he came up with Altierre.
As of now two of the three largest grocery chains in the United States are testing Saxena’s invention.
The company has already received $60 million in venture capital and projects $1 million in revenues for 2009. This idea seems to be catching on as digitizing labels saves money and time with no effect to the shopper.
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