Celes, a Barranquilla, Colombia-based platform that uses analytics and artificial intelligence to optimize inventories, has raised $1 million in seed funding.
The seed funding round saw participation from investors including Primeline, the company's partners in Ireland, as well as MatterScale, Rockstart, and angel investors.
The funds will be used to enhance its software solution, specifically focusing on optimizing cash flow for companies in the retail sector.
The investment will enable Celes to expand its sales team in various retail segments, including pharmacies, hardware stores, supermarkets, and clothing retailers. Additionally, the capital will support the development of new functionalities to enhance the operation of retailers and marketing strategies to increase awareness of Celes' offerings.
“Our goal is for this data to become a source of cash flow rather than an engineering challenge for companies. The investment round we just closed provides the necessary resources to accelerate our expansion and product development. With this momentum, we are getting closer to achieving the vision that has guided our efforts from the beginning,” said Celes’ CEO, Luis Ricardo Almanza Herazo.
Currently, Celes serves over 400 points of sale with approximately 3 million end consumers. They have successfully connected around 20 ERP and POS systems in countries such as Colombia, Peru, Bolivia, and Ireland.
Round: Seed Round
Funding Month: July 2023
Additional Investors: Primeline, MatterScale, Rockstart, and angel investors
Company Website: https://www.getceles.com/
Software Category: Artificial Intelligence and Data Analytics platform
About the Company: Celes is an artificial intelligence and data analytics platform that uses business data to convert it into cash flow. Celes collects and processes data from various sources, such as transactions, online behavior, and your customer's preferences. The company's mission is to help retailers by analyzing and managing the vast universe of data in the retail industry, ultimately becoming an operating system for the sector.