Maine startup helps small stores track inventory with AI

A Portland-based startup has launched an artificial intelligence tool designed to simplify inventory management for independent convenience, grocery, and liquor stores. The software, named Storeveu, tracks products from delivery invoices through point-of-sale sales and provides constant updates to store owners. It also forecasts consumer demand and suggests price reductions before expiration dates render products unsellable.

Nishant Patel, co-owner and software designer at Fortune Technology Inc., said the system predicts how many items are needed in coming weeks if sales are strong. If an item is not selling, the software suggests creating a promotional sale. Patel noted that the system flags any product line the AI is unsure about for human review.

Patel began developing the system in January 2026. The company received a $30,000 business innovation grant from the Maine Technology Institute in July to improve the system's accuracy. Patel said the software is currently about 75% accurate, with training ongoing to push that number closer to 100%.

The tool addresses a common challenge for small retailers, who often manage inventory by hand. This process requires staffing, time, and comfort with financial risk, all of which are difficult amid rising costs and tight labor markets. According to the National Association of Convenience Stores, most convenience stores in the United States are owned by companies with 10 or fewer shops. Patel identified approximately 95,000 such businesses as potential customers, noting that these owners rarely receive software built specifically for them.

Storeveu runs on Fortune Technology's own servers rather than a third-party AI service. The system uses only data provided by store owners, tailored to each store's specific needs. The hardware starts at $600 per store, with software and customer support costing $49.99 per month. Patel said one estimate from a larger provider was $30,000 to start.

Sanjay Patel, 45, is Nishant Patel's business partner. Sanjay owns more than a dozen liquor and convenience stores across Massachusetts, New Hampshire, and Maine, including Dad's Place in Mechanic Falls and Phippsburg Center Store. The two men are both from Gujarat, India, but are not related. Sanjay's retail experience helped fine-tune the software, which also includes video features for security, theft protection, and monitoring sales of alcohol, tobacco, and lottery tickets. He has installed the system in his eight independent stores.

Sanjay Patel, who lives in North Andover, Massachusetts, said the system offers features missing from other point-of-sale systems. He stated that it provides a clear picture of sales and is helping his business significantly. Fortune Technology currently employs 10 people and services 50 stores. This is an increase from the 15 stores they were servicing when they applied for the state grant.

Interest in AI projects in Maine has grown steadily. In 2020, only three applications for IT-related funding from the Maine Technology Institute referenced AI. By 2026, that number rose to 138 applications, or 41% of the total. Brian Whitney, president of the nonprofit, said about 60% of AI-related awards have gone to projects serving a public good, such as healthcare, education, and public safety.

Whitney said the institute looks for projects that solve technical or scientific challenges and create quality jobs in Maine. He noted that most companies receiving awards have fewer than 50 employees. Other recent recipients include Alivo Inc. of South Portland and Restoration Medicine Inc. of Portland.

The business partners are currently working seven days a week to promote the system and onboard new customers. Last month, they set up a table at the Navratri gathering in Foxboro, Massachusetts, a nine-night Hindu music and dance festival. Nishant Patel said they attended on the eighth night and collected 50 leads, many of which belong to owners with multiple stores.