Supply chain AI specialist Invent Analytics raises $17 million in Series B round led by LFX Venture Partners
Invent Analytics, a retail planning solutions provider, has secured $17 million in Series B funding.
The round was led by LFX Venture Partners, in partnership with existing investors European Bank for Reconstruction and Development (EBRD) and Collective Spark.
The company has raised $24.5 million in total to date.
John Seung, Managing Partner, LFX Venture Partners, says: “We’re on a mission to build a better, more efficient, and sustainable global supply chain.”
“We chose to invest in Invent Analytics for its innovative AI decisioning technology and ability to accelerate retailer planning capabilities to create direct bottom-line return on investment.”
Founded in 2013, Invent Analytics has offices in the US and globally and has become a partner for over 50 retail chains, including Men's Wearhouse, Jos. A. Bank, Academy Sports + Outdoors, Five Below, and GNC.
Prof. Gurhan Kok, Founder and CEO at Invent Analytics, says “Inventory optimisation is more crucial than ever, thanks to the many ways customers can browse, buy, and return goods in this omnichannel world.”
“Many retailers still rely on historical data, assumptions, and manual processes to make inventory decisions, leading to inaccurate forecasts, out-of-stocks and unhappy customers.”
“Our solutions leverage AI to make granular planning decisions across the supply chain, including planning, price optimisation, and fulfilment. As we continue to enhance our capabilities, we remain focused on profitability, enhancing experiences, and creating loyal customers.”
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