Anakin, a San Francisco, California-based B2B SaaS (software-as-a-service) company that enables e-commerce companies to see their competitors’ live pricing data, raised $2 million in Seed funding.
The round saw participation from YCombinator, HOF Capital, Austen Allred, ACE & Company, Integrity, Pioneer Fund, and a group of other angel investors.
The company will be using the funds to enhance its software and hire additional employees to increase its presence in other geographies, Anakin currently has a presence in India, San Francisco, and Singapore.
The company will also invest in product development, expanding into other categories, and creating a self-service tool.
Company: Anakin Technologies Pte Ltd
Round: Seed Round
Funding Month: December 2021
Additional Investors: YCombinator, HOF Capital, Austen Allred, ACE & Company, Integrity, and Pioneer Fund
Company Website: https://www.anakin.company/
Software Category: Pricing intelligence platform
About the Company: Founded by Mohit Prateek and Rashmi Bala in September 2020, Anakin helps e-commerce stores and brands increase their revenue using pricing, products, and trends data, both from their competitors and markets. The platform comprises dynamic pricing software that helps to set pricing to better profit margins based on the prices or stock availability. Anakin’s platform also offers competitive intelligence based on stock levels, product visibility, new launches, promotional events, and product attributes. The platform tracks and categorizes all the data using AI (Artificial Intelligence) and machine learning. The company counts Flipkart, RedMart, and Nike among its clients, and claims that its platform has helped these companies in increasing their revenues by as much as 12%. The company, which is lives in more than 12 countries, also claims to be growing at 24% on a month-on-month basis.