Skann AI Technologies is an AI company that conducts "surround scans" of vehicles to diagnose a car's maintenance and repair needs.  

Wayne Weddington is Chairman at Skann AI Technologies of which Pennoyer Partners is a shareholder and steward for the company.  The Company stands to revolutionize the multi-site car rental industry, car-share industry, and light care-maintenance industries by streamlining vehicular inspections, identifying maintenance or repair needs (paintless dent repairs, damaged lenses, brakes, tire treads/rotations, window repair) and average ticket upsells.

The Company is a proven value case for rental car companies, used car vendors, car manufacturers (quality assurance) insurance companies (mitigating fraud) and security (examining the undercarriage or excess weight).  The Subject Company has an impressive list of inaugural clients (in Europe) including Avis, Budget, Sixt, Stellantis Group and Zip Car, and recently is installing its technology at the Ford Motors/Otosan manufacturing factory in Europe commencing (target) September 2024 for a long term quality assurance partnership (higher accuracy, faster diagnoses, and less personnel "man-hours" was the value proposition).

In the US, the Company has recently earned a contract with Edge Auto Rental, and, is in advance negotiation to install its systems in a large multi-site light car maintenance platform. Skann will deploy its systems incrementally in a shared revenue pricing model with expectations to reach 200 locations by 2026.  The upsells are 'found money’ for the retailer with de minimus customer acquisition costs.

The proof of concept is clear (efficacy, unique competitive attributes) as well as the business model. Skann AI has completed proof of efficacy tests with multiple global corporate clients with a successful track record for time, accuracy improvements and labor savings.  The Skann AI founders accelerated development derived from their successes in a predecessor sister company, Servislet (www.servislet.com), that vends software for the automotive industry (CRM, sales generation and online sales).  Servislet also has a global licenses for multiple automotive vendors also enabling drop-ship capability and online commerce for Skann AI subscribers. .

The Subject Company's closest direct competitor is UVEYE (www.uveye.com), which also diagnoses vehicle damage, repair or maintenance needs with a surround scan (including the undercarriage) aided by artificial intelligence.  UVEYE's investors are GM Ventures, Hanaco Ventures, WRBerkeley and FIT Ventures.  UVEYE's last round with CarMax was valued at $800 million.

In multi site retail it stands to increase the average ticket by identifying maintenance needs real time.... The Company can provide the hardware by subscription, or ostensibly free (with revenue share for upsells), and provide unlimited on-site scans for a nominal subscription.  The opportunity for upsells in the average ticket is great.  The Company is in a pre-Series A ‘petit raise’, including Fords European VC arm, Driventures.