HomeUKForestreet Receives Strategic Investment from Beroe

Forestreet Receives Strategic Investment from Beroe

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Forestreet, a London, UK-based provider of an artificial intelligence-driven software solution for supplier and innovation discovery, received a strategic investment from Beroe.

The amount of the deal was not disclosed. in conjunction with the news, Beroe Founder and CEO, Vel Dhinagaravel, will join Forestreet’s board of directors.

The company intends to use the funds to drive further joint innovation to support the incorporation of the latest AI technology in category- and supplier-level intelligence. Beroe’s investment will accelerate the integration of Forestreet’s supplier discovery tools. The availability of real-time access to market insights and supplier discovery will ensure that Chief Procurement Officers (CPOs) and their teams have the most up-to-date and curated information, as they face new demands to proactively mitigate risk and build resilient supply chains.

Led by CEO Alex Miller, Forestreet offers a comprehensive suite of tools for uncovering market insights and understanding companies within a market. Leveraging AI, Forestreet enables businesses to map new categories in minutes, effectively de-risking their supply base. This empowers procurement teams with the speed and confidence to make informed decisions, accessing supplier led innovation and driving business growth.

FinSMEs

27/06/2024

THE DAILY NEWSLETTER - SIGNUP