Relex Solutions, a Helsinki, Finland-based provider of in-memory-based supply chain software, raised a €20M minority investment.
The backer was global growth equity firm Summit Partners. In conjunction with the funding, London-based Summit Partners’ Managing Director Han Sikkens and and Vice President Steffan Peyer joined Relex’ Board of Directors.
The company intends to use the funds to funds for continued international expansion, firstly into the North American market later this year.
Co-founded by Mikko Kärkkäinen, Johanna Småros and Michael Falck, Relex has developed technology leveraging in-memory computing that allows retailers, wholesalers and manufacturers to automate and optimize their supply chains, reduce inventory and boost on-shelf availability.
Relex now operates in 17 countries across Europe and Africa.