Invent Analytics, a global retail planning solutions provider, today announced that it has raised $7.5 million in Series A funding. The round was led by EBRD (European Bank for Reconstruction and Development), with participation from Collective Spark. The funding will be used to further accelerate Invent Analytics’ growth in North America and Western Europe and continue to invest in its AI-powered retail supply chain solutions for omni-channel retail.
Invent Analytics helps retailers maximize profitability by leveraging data-driven demand forecasting, inventory planning, and pricing. Today, with a team of 140 world-class data scientists and engineers, Invent Analytics is enabling retailers to profit-optimize their whole supply chain and inventory planning to win in the new world of omni-channel retail. The company has already achieved considerable success with its innovative technology, winning over many leading retailers in the US, Europe, the Middle East, and Asia. Clients have experienced a 2-6% increase in profitability, increased sales, lowered inventory, and reduced fulfillment costs.
“Supply chain transformation is critical for retailers to maintain a competitive advantage as customer expectations rise in a complex omni-channel retail environment. Our solutions help retailers optimize their entire supply chain, unifying network planning, inventory and price optimization, and fulfillment in one powerful framework and boost customer satisfaction. As Invent Analytics, we aim to grow by maintaining our leadership in the omni-channel forecasting and inventory planning domain,” said Prof. Gurhan Kok, Founder and CEO of Invent Analytics.
“Supply chain and inventory management have become a C-level priority for retailers due to the ongoing supply chain disruptions, inflationary pressures as well as consumers’ increasing expectations for omni-channel experience,” said Yalcin Gungoren at EBRD Venture Capital Investment Programme. “Invent Analytics’ differentiated and science-driven retail planning suite delivers a measurable and straightforward ROI with an incredible speed-to-value. Gurhan Kok and the broader Invent Analytics team have unparalleled domain expertise. We are very excited to be joining their journey as they take retail planning to a new level,” added Yalcin Gungoren.
“The retail industry has the potential to benefit enormously from artificial intelligence. We have been closely watching Invent Analytics’ strong progress for some time and believe that it has the AI-powered technology to accelerate retailers’ omni-channel demand forecasting, allocation, replenishment, and markdown capabilities creating measurable direct bottom-line ROI. There’s no doubt that Invent Analytics will be a pioneer as a global retail planning solutions provider in the industry soon,” commented Atil Erken, General Partner at Collective Spark.
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