Dynamic Pricing AI, a Sofia, Bulgaria-based retail pricing management startup, raised €600K in funding.
Backers included Sofia Angels Ventures, Vitosha Venture Partners and several international business angels.
The company intends to use the funds to expand its team of data scientists and developers and invest in product development and customer acquisition.
Led by Simeon Lukov, CEO, Dynamic Pricing AI provides a tool that helps retailers and brands increase sales, revenue and optimize their pricing strategy. The company targets Direct-to-Consumer (DTC) brands, whose sites have become increasingly popular among brands looking to bypass traditional distribution channels and establish a direct relationship with their customers.
Dynamic Pricing AI develops reinforcement learning models specifically for pricing purposes using reward signals from the market to optimize the supply-demand equation.
FinSMEs
07/04/2023