Kavida.ai, a London, UK-based supply chain startup, raised £900k in additional funding.
The round was led by Qima, with participation from Red Bus Ventures as well as several UK angels including Chris Adelsbach, Jack Cresswell, Christopher Carter, Ian Kemsley, Jonathan Davie, Simon Davies, Russell Puttick, Lord John Nash, and more. The funding follows the previous raise of £300K in pre-seed capital from strategic investors in 2021, taking total funding to £1.2M.
The company intends to use the funds to enhance its platform with artificial intelligence tool ChatGPT, and to hire talent, strengthening its team of AI experts and data scientists.
Founded in 2020 and led by Anam Rahman, Chief Executive Officer, and Dr Sumit Sinha, Chief Technology Officer, Kavida.ai helps manufacturers and retailers derisk procurement through its order management systems, allowing users to detect, track and manage issues to supplier orders before they hurt the business. The company’s supply chain ChatGPT will allow procurement managers to ask important questions to a Co-Pilot. The technology provides visibility into the status of any order, at any point of the fulfilment process, all in real time.
The seed announcement follows news last month of the company’s admission into Digital Catapult’s Supply Chain Hub programme, which will award up to £100K to develop novel solutions for supply chain visibility of inventory, targeting UK automotive manufacturers.
FinSMEs
08/08/2023