Nextail, a Madrid, Spain-based tech company that brings artificial intelligence into retailers’ inventory planning and merchandising decisions, closed $10M in Series A funding.
The round was led by Keen Venture Partners LLP with participation from Sonae Investment Management and existing investor Nauta Capital.
The company intends to use the funds to accelerate product development and double the size of the team, as it grows internationally.
Founded by Joaquín Villalba and Carlos Miragall in 2014, Nextail has developed a cloud-based platform that combines artificial intelligence and prescriptive analytics to upgrade retailers’ inventory management processes and store operations. The company is continuously enhancing its product offering through technological innovation and advanced analytics.
Nextail has offices in Spain, Italy, Russia, the UK and the USA.
Clients are fashion and collection-based retailers including Pepe Jeans, Stefanel and Melon Fashion Group.