Solvo.ai, a London, UK-based AI startup focused on improving decision-making in the supply chain and logistics sectors, raised $4 million in seed funding.
The round was led by Speedinvest and Frontline Ventures.
The company will use the funds to scale the commercialization of its first product and ramp up sales and business development.
“Solvo.ai's reinforcement learning technology is trained on real logistics data and allows logistics professionals to make better-informed decisions, adapting to their changing goals over time. The optimization engine can quickly adapt to new situations, helping logistics companies recover faster from disruption by factoring uncertainties into its models," said Gaurav Bajaj, Solvo.ai's CEO, and co-founder. "Our A.I.-driven workflows allow experts to make the right trade-offs by applying their judgment, value, and context to the recommendations our algorithms present”.
The startup is focused on improving decision-making in the supply chain and logistics sectors. Its first product, an AI-powered dynamic pricing engine for enterprises, was created in collaboration with one of the world's largest logistics businesses.
Company: Solvo.ai Ltd
Raised: $4.0M
Round: Seed Round
Funding Month: November 2022
Lead Investors: Speedinvest and Frontline Ventures
Additional Investors:
Company Website: https://www.solvo.ai/
Software Category: AI Optimization Engine
About the Company: Founded by Gaurav Bajaj and Dr. Dongho Kim, Solvo.ai is an AI platform for the supply chain. Solvo.ai helps logistics companies adapt to a rapidly changing world via recommendations powered by machine learning that help them optimize yields and recover from disruptions faster. It helps the logistics industry build stronger supply chains when economic, political, and environmental conditions are becoming increasingly difficult to predict, and leaders in the sector are increasingly concerned that supply chains should be robust, not just efficient. Solvo.ai's mission is to make supply chains of the future more resilient, efficient, and responsive through value-driven machine learning technology.
Source: https://techfundingnews.com/solvo-ai-raises-4m-to-help-the-logistics-industry-build-robust-and-efficient-supply-chains-with-ai/