Vekia, a Lille, France-based provider of a machine learning powered forecasting demand and supply management platform, raised €12m in funding.
The round was led by Serena Capital, BPIFrance, with participation from previous investors Pléiade Venture, CapHorn Invest and Zenium Technology Partners (ZTP).
The company intends to use the funds to accelerate its international expansion in the United Kingdom, the United States and China, as well as to accelerate technological progress.
Led by President & Founder Manuel Davy and CEO Dominique Rérat, Vekia provides AI and machine learning powered supply chain management solutions for distributors and manufacturers to improve inventory management, whether small or large and optimize in-store and warehouse deliveries with an accurate forecasting of demands and sales.
Customers included Galeries Lafayette, Mr. Bricolage, BUT, Leroy Merlin and Etam Group, among others.
Vekia currently employs 60 people and continues to build the team with plans to double the staff size in the next year.