Speedinvest participates in $4.5M seed round for London-based autone
UK’s autone, a startup that aims to maximise business growth through data-driven inventory optimisation, has announced its fresh $4.5 million seed round of funding. The investment was co-led by Speedinvest, Seedcamp, and Y Combinator.
- Co-founded by Adil Bouhdadi and Harry Cheslaw in 2021, autone specialises in maximising growth for businesses through data-driven inventory optimisation. By leveraging data analytics, it helps businesses reduce stock-outs and excess inventory.
- autone offers a comprehensive suite of services:
- Pricing: autone ensures accurate pricing at every stage of a product’s lifecycle.
- Buying: the data-driven buying module facilitates collaboration between merchandising and finance teams.
- Replenishment: through automatic stock replenishment based on data insights, they prevent stockouts.
- Reorder: by leveraging forward-looking visibility and early trend identification, businesses can proactively manage demand.
- Insights: autone’s insights module provides stakeholders with actionable data-driven insights.
- The investment came from Vienna-based VC fund Speedinvest, Seedcamp from London, and US-based Y Combinator. The round also saw participation from new investors Motier Ventures, Financière Saint James, Kima Ventures, Purple, Better Angle, and 2100 Ventures.
“Autone provides vital insights to help retailers not only navigate the current supply chain crunch but supercharge their operations and thrive in an increasingly competitive retail market. Adil and Harry’s experiences in S&OP and Supply Chain equipped them with an in-depth understanding of the industry’s status quo and fueled their desire to build a user-friendly solution that truly serves the needs of modern retailers,”Tom Wilson, the managing partner of Seedcamp commented.
- This investment will help autone to expand into new strategic markets, accelerate product development, and strengthen international partnerships.