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Allows merchants to base inventory selections on consumer behavior, resulting in fewer stockouts and higher margins.
FREMONT, CA: Singuli, Inc. has announced the completion of a 3.7 million dollars seed round. The startup, formed in 2019, provides an AI-enabled platform for planners, merchants, marketers, and finance teams in modern retailers to make better inventory decisions.
Harlem Capital led the round, with High Alpha Capital, AVG Basecamp Fund, and current investors Interlace Ventures and LAUNCH joining. In addition, Angel investors like Paul Goodman (co-founder of Pura Vida Bracelets) and Darwish Gani joined these institutions (co-founder of Pangaea). A 700k dollars pre-seed round gets included in the fundraising, which was previously unreported.
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Benjamin Kelly, CEO, and co-founder said, "After working as a data scientist in the consumer space for nearly a decade, I saw the obvious need for a new approach to inventory, from algorithms to tools. Retailers face simultaneously a discerning & fickle consumer, and the constraints of a highly complex & interrelated global supply chain. Staying on top of demand & supply forecasts is a massive challenge for retailers and opportunity for us at Singuli."
The company collaborates with various e-commerce and
omnichannel retailers in multiple industries, including apparel, jewelry, footwear, and home accessories.David Chernow, Co-Founder at BRUNT Workwear, said, "Early at BRUNT we explored forward thinking solutions to bring smart automation and data science to our inventory planning. We've been impressed with the Singuli platform & team so far, not only as it relates to replenishment, but also as their platform helps us de-risk upcoming items in the assortment."
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