PHILADELPHIA—Dec. 6, 2022—invent.ai (formerly Invent Analytics), a global retail planning solutions provider, 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. Invent.ai will use the funding to further accelerate its growth in North America and Western Europe and continue investing in its AI-powered retail supply chain solutions for omnichannel retail.
Invent.ai helps retailers maximize profits by leveraging data-driven demand forecasting, inventory planning, and pricing. Today, with a team of 140 world-class data scientists and engineers, invent.ai’s retail planning solutions enable retailers to profit-optimize their entire supply chain and inventory planning. The company has already succeeded with its innovative technology, winning over many leading retailers in the US, Europe, the Middle East, and Asia. Our clients have experienced a 2-6% increase in profitability, increased sales, lower inventory and reduced fulfillment costs.
"Supply chain transformation is critical for retailers to maintain a competitive advantage as customer expectations rise in a complex omnichannel retail environment. Our solutions help retailers optimize their entire supply chain, unifying network planning, inventory and price optimization and fulfillment in one powerful framework to customer satisfaction. As invent.ai, we aim to grow by maintaining our leadership in the omnichannel forecasting and inventory planning domain," said Prof. Gurhan Kok, Founder and CEO of invent.ai.
"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 omnichannel experience," said Yalcin Gungoren at EBRD Venture Capital Investment Programme. "Invent.ai's 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.ai team have unparalleled domain expertise. We are excited to join 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.ai's strong progress for some time. We believe it has the AI-powered technology to accelerate retailers' omnichannel demand forecasting, allocation, replenishment and markdown capabilities, creating measurable direct bottom-line ROI. There's no doubt that invent.ai will soon be a pioneer as a global retail planning solutions provider in the industry," commented Atil Erken, General Partner at Collective Spark.
Invent.ai is a pioneering AI-decisioning Platform that gives retailers superpowers to make the best planning and operational decisions to grow sales, revenue and margin dollars. Delivering fast, measurable value through its technology solutions, invent.ai brings together retail planning data, predicts outcomes, and optimizes inventory, pricing and merchandising.