UK startup Kavida.ai raises £900,000 seed capital to build supply chain ChatGPT
London-based supply chain startup, Kavida.ai, has secured a £900k investment to enhance its platform with artificial intelligence tool ChatGPT.
The company, which was founded in 2020, works with manufacturers and retailers via its order management systems, allowing users to detect, track and manage issues to supplier orders before they hurt the business.
The seed investment round was led by Qima, a provider of supply chain quality and compliance solutions, and was joined by Red Bus Ventures as well as several UK angels including Chris Adelsbach, Jack Cresswell, Christopher Carter, Ian Kemsley, Jonathan Davie, Simon Davies, Russell Puttick, and Lord John Nash.
The financing will strengthen and develop Kavida.ai’s supply chain ChatGPT which will allow procurement managers to ask important questions to a co-pilot. The technology provides visibility into the status of any order, at any point of the fulfilment process, all in real time.
The cash will also support the hiring of new employees, with the aim of strengthening Kavida’s team of AI experts and data scientists. It follows a previous raise of £300,000 in pre-seed capital from strategic investors in 2021, taking total funding to £1.2 million.
Anam Rahman, Chief Executive Officer at Kavida.ai, says: “We are thrilled to have secured this investment enabling us to accelerate a 10 year product vision into an immediate reality.We’re living in unstable times.”
“Disruption in supply chains is commonplace and procurement managers need instant access to data to understand where their order is, when it will arrive and whether there will be any delays or risks. They need to be alerted of these issues before they become a crisis.”
“The ChatGPT and LLM breakthroughs will transform the way users interact with that data. We’re excited to be at the forefront of AI co-pilots for supply chain”.
Sebastien Breteau, QIMA Founder and CEO, says: “Identifying and communicating efficiently supply chain risks to businesses, using the power of LLMs, is a very promising step forward. We are excited to support Kavida’s vision to monitor these risks live, leveraging the power of AI”.
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