So1 GmbH, a Berlin, Germany-based developer of a tech platform for manufacturers and retailers to reach consumers with individualized price promotions, raised a “seven-figure” Series A funding from Target Partners.
The amount of the deal was not disclosed.
The company intends to use the funds to enhance the product and pilote it in the German consumer goods industry.
Founded in 2012 by CEO Raimund Bau and Sebastian Gabel, So1 has developed proprietary algorithms that calculate the product price reduction required to move consumers to change brands, allowing manufacturers and retailers to customize special offers.
The company, which currently has a team of eight people, named Heinz Müller, former managing director sales at Henkel and supervisory board member of GS1 Germany, and Joachim Schoss, founder of Scout24 Group, as advisory board members.