VenHub, a provider of artificial intelligence (AI)-powered retail concepts, has named two new company leaders that have former convenience-retail experience with 7-Eleven, Irving, Texas; bp, Chicago; and Amazon Web Services, Seattle.
Tarang Sethia is executive vice president of product and technology as of Feb. 9, and Ian Rasmussen is executive vice president of global expansion and partnerships as of Feb. 2.
Sethia and Rasmussen both will report to Shahan Ohanessian, founder and CEO.
The Las Vegas-based company combines robotics, automation and mobile-first technology. It operates five autonomous, unattended locations, called Smart Stores, in California, including Los Angeles Union Station, according to the company’s website. VenHub recently started trading on Nasdaq.
Retailer names executive vice president of product, technology
Sethia, the newly appointed executive vice president of product and technology, will focus on building scalable product and technology systems that help accelerate the company’s Smart Store growth, improve unit economics and enable reliable execution at scale, VenHub said.
During his last role—four years at bp—Sethia helped build a retail operating system delivered as a service, including the Earnify ecosystem, enabling independent retailers to modernize loyalty, payments and digital engagement through a customer-centric, AI-first platform approach.
At 7-Eleven, Sethia scaled the 7Rewards consumer ecosystem, proprietary payments and point-of-sale (POS) platforms, and advanced research and development initiatives, exploring autonomous and computer-vision-enabled retail formats.
He also has held roles at Intuit and American Airlines, both based in Dallas.
“Throughout my career, I have led teams focused on product development and innovation that transform legacy retail enterprises into high-growth, capital-efficient, technology-powered businesses,” Sethia said. “From my first interaction with a VenHub Smart Store, I instantly recognized the elegance and power the solution offers to usher in a new era of autonomous retail that benefits consumers and retail operators. I am looking forward to working with Shahan and the team to further position VenHub as the leading provider of unattended retail experiences.”
VenHub names executive vice president of global expansion, partnerships
Rasmussen, executive vice president of global expansion and partnerships, is responsible for driving revenue growth through enterprise partnerships, operator onboarding and scalable go-to-market execution, VenHub said.
Rasmussen joined VenHub after nearly a decade at Amazon Web Services, where he helped expand Just Walk Out and related checkout technologies across energy and convenience sectors. He led teams responsible for deploying computer vision, Internet of Things (IoT)and self-checkout systems with national and global operators.
Rasmussen also has worked with brands including Coca-Cola, iRobot, Stanley Black & Decker, Philips Hue, BMW, Five Guys and Eli Lilly, advising on connected retail, automation and cloud-based innovation strategies. He is an active member of the National Association of Convenience Stores (NACS) and the National Retail Federation (NRF).
“I am impressed by how the VenHub team’s vision and execution to date have addressed many of the challenges that traditionally slow retail innovation,” Rasmussen said. “VenHub Smart Stores are practical, autonomous retail technology that are already live and performing in real environments. 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.”
VenHub Smart Stores are fully autonomous retail units that combine robotics, automation and mobile-first technology to deliver secure, unattended shopping. Each unit operates 24 hours a day without on-site staff and is stocked with everyday essentials.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.