Ameba has raised £5.4 million in seed funding to ‘transform global supply chains’ through artificial intelligence.
The London firm is led by founders Cedrik Hoffmann, former supply chain director and co-founder of eCommerce giant VALOREO, and Craig Massie, a former Palantir engineer who built the S&P 500 firm’s data privacy tool.
Its platform, which sits on top of existing software, aims to help companies manage and unlock growth from their complex supply chains by automating the extraction of data in multiple languages from sprawling sources such as emails, WhatsApp, PDFs and Excel.
The round was led by Hedosophia and featured existing investors Visionaries Club and Anamcara. Ameba will use the money to expand into new territories.
“Brands today face intense pressure to meet rapid shifts in consumer trends while delivering on expectations for fast, low-cost, and sustainable supply chains,” said CEO Hoffmann.
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“Many of the biggest names in fashion still manage their supply chain data on Excel and communicate with suppliers via email or WhatsApp. We want to transform customers’ operations while meeting them where they are today.
“With Ameba, we’re turning supply chains from bottlenecks into engines of growth.”
Massie added: “With brands constantly juggling data, managing sprawling inventories and fighting fires across their supply chains, they have no choice but to be reactive; to address the task or fight the fire directly in front of them.
“They rarely have time to take a step back, look at their supply chain as a whole and identify areas of untapped efficiency and growth.
“Ameba finally transforms these reactive processes into proactive solutions that are only possible due to our team’s deep understanding of the market, its challenges and the tech needed to solve them.”