Autone, a London, UK-based provider of an AI-powered platform for optimal inventory management, raised $17M in Series A funding.
The round was led by General Catalyst. All existing investors from its Seed round also reinvested in its Series A, including Speedinvest, YCombinator, Seedcamp, 2100VC, Motier, Financière Saint James, and business angels from LVMH, Sephora and Moncler.
The company intends to use the funds to expand go-to-market efforts within the US and grow its product and engineering team.
Led by CEO Adil Bouhdadi and CTO Harry Glucksmann-Cheslaw, Autone is an AI-powered inventory optimisation platform helping retailers transform their business through data-driven decision-making. It collates 100M data points per customer which it uses to demonstrate the impact on the bottom line of changing a single input. By integrating all internal and external data, the platform uses predictive analytics and machine learning to identify trends, forecast demand and anticipate inventory needs. Brands using autone report reduction on inventory, an increase in accuracy in forecasting, a sales increase and manual work saved.
Autone is used by global retail brands, including Courreges, Roberto Cavalli, Stussy, and Zadig & Voltaire, to bring a step-change in inventory management.
FinSMEs
16/10/2024