Syrup Tech, a New York-based provider of an AI-powered predictive software platform to improve for inventory management in commerce, raised $6.3M in funding.
The round was led by Gradient Ventures, with participation from Flybridge Capital, Firstminute Capital, and Rackhouse Ventures, 1984 Ventures, as well as angel investors including former executives at Adidas, Bonobos, Salesforce, ASOS, ThredUp, Casper, Zalando, and Stripe. who led the company’s pre-seed round last year, continued investing in this round.
The company intends to use the funds to service new and existing demand from its customers, as well as develop new modules and features.
Led by CEO James Theuerkauf, Syrup Tech provides an AI-powered predictive software platform that allows merchandisers and planners at omni-channel brands and retailers to make data-driven inventory decisions. The proprietary technology plugs into internal systems to analyze internal data (e.g. transactions, e-comm, marketing, inventory data), that is enhanced with external sources (e.g. social media trends, weather). Syrup’s recommendations are powered both by advanced forecasting and stochastic optimization models.
FinSMEs
13/07/2022