Kuona, a Monterrey, Mexico-based intelligent SaaS platform that uses machine learning to automatically optimize product prices, promotions, and inventories for consumer-packaged goods (CPG) and retailers, announced that it raised $6 million in seed funding.
The round was led by COMETA, with participation from Seaya Cathay Latam and FEMSA Ventures.
The new capital will be used to expand Kuona's presence and team in key geographies, including Latin America, Europe, and the United States.
"Our product is truly global in nature and also has versatile omnichannel capabilities, effectively serving modern trade (supermarkets, convenience stores), traditional trade (mom-and-pop stores), and major e-commerce organizations," said Chema Sanroman, CEO and co-founder of Kuona. "While consumer markets vary greatly, we can adapt to the data available in each country. Kuona's unique proposition of automatic data capture with high levels of granularity and accuracy has proved its value to customers, many of whom previously relied on Excel and paper-and-pencil era techniques to try and predict demand — an approach that generated low-quality predictions."
Kuona helps CPG and retailers dramatically increase the ROI of their promotions while maintaining or increasing their sales.
The company, which recently opened an office in Brazil, is already profitable, operates in five nations, and caters to significant clients all over the world, including Coca-Cola and OXXO convenience stores.
Company: Kuona Inc.
Round: Seed Round
Funding Month: December 2022
Lead Investors: COMETA
Additional Investors: Seaya Cathay Latam and FEMSA Ventures
Company Website: https://kuona.ai/
Software Category: Price and Promotion Optimization
About the Company: Founded by Chema Sanroman and Agustín Magaña, Kuona Analytics is an enterprise SaaS that helps some of the world's largest consumer brands and retailers optimize their pricing, trade promotions, and inventories using artificial intelligence. Launched in 2017, the company set out to help the competitive CPG and retail industries better adapt to the ever-changing consumer market dynamics by leveraging data-driven tools to predict demand and track customer behavior. Kuona operates in the United States, Mexico, Brazil, Peru, and Ecuador, and it participated in the Y Combinator Fellowship program.