Algoretail

Plug-and-Play Retailer Platform

Business Software
Active
Seed Tel Aviv-Yafo Founded 2018
Total raised
$5.0M
Last: Seed 2021-09
Stage
Seed
Founded
2018
Headcount
6
HQ
Tel Aviv-Yafo
Sector
Business Software

About

Algoretail is an AI-driven platform that connects the dots between the shelf, the workers, and the suppliers to optimize workflow and labor efficiency, reduce waste, and consequently increase profit. With Algoretail, retailers can keep their stores' shelves fully stocked with the right products, and the back store neat and organized. Algoretail can provide a 40% reduction in waste, 35% reduction in product returns, and 20% reduction in labor, with 99+% on-shelf availability and 25% more back store space. Algoretail generates an automated, transparent, and dynamic process from the moment a product enters the back store until it is purchased, enabling accurate ordering and advanced preparation, coordinating the back store with shelf placement, and automatically generating tasks for employees.

Funding history · 1 round · $5.0M total

2021-09
Seed $5.0M

Sectors & technology

Primary sector
Business Software
Sub-sectors
Business SoftwareIT, R&D & Data SolutionsData Analysis & Decision SupportSales & Marketing Solutions
Technologies
Artificial IntelligenceDeep LearningMachine LearningPlatforms & Interfaces
Target customers
Commerce & RetailDistribution ChannelsSupermarketsSupply ChainBrick & Mortar
Business model
B2B

Tags

cloudweb-platformbusiness-intelligencemanagement-solutionsautomationinventory-managementretailersbig-data-analyticssales-predictionmachine-learningartificial-intelligencesupply-chainsaasretail-technologypredictive-analyticsretailsupermarketsfreight