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Vekia Raises € 12m from Serena Capital, BPIFrance, Pléiade Venture, CapHorn and ZTPVekia, a key player in machine learning in the Supply Chain market and an expert in forecasting demand and supply management, raises € 12 million to accelerate its international expansion in the United Kingdom, the United States and China, as well as to boost its technological progress. This fundraising follows an initial investment of € 2.4 million in 2015. "Vekia is entering a crucial phase of its development in France, Europe and internationally. We are recognized as a leader in AI and an expert in forecasting demand and supply management. Today, this success and this acknowledgement allows us to complete a record fundraiser that shows the dynamism of the French technology industry. This new round will help us to realize our founding aim of offering next-generation Supply Chain solutions. This new capital will also give us the means to expand Vekia to Britain, the United States and Asia, while continuing to innovate to be as disruptive as possible," Vekia President & Founder, Manuel Davy, and CEO, Dominique Rérat.
Applying Machine Learning to Supply Chain With this solution, retailers increase turnover and margins, while also saving working capital. By considering transaction history, planned promotions and seasonality through an agile and robust platform, Vekia saves working time while ensuring up to 97% accuracy in its forecasts. Vekia solutions are adapted to a number of industries, contributing to better margins, while encouragingrelocation and reducing pollution and greenhouse gases by lessened transport and production. Large names on Vekia's client list include Galeries Lafayette, Mr. Bricolage, Goal, Leroy Merlin and the Etam Group. In terms of Vekia's technological strides, the company boasts 120 man-years in engine construction, due to the work of six dedicated AI scientists.
Global Acceleration and Enhanced Performance Vekia currently employs 60 people and continues to build the team with plans to double the staff size in the next year. During the growth period, Vekia continues to enhance its AI solutions, specifically in Machine Learning, and now offers all its solutions in SaaS (News - Alert) mode, to enable new technological advances. For Anne-Valérie Bach, Partner at Serena Capital: "Vekia, rising star of the French Tech, has very good performance, exponential growth and financial strength. This success is first and foremost due to their great expertise in AI, mastery of complex Supply Chain processes and perfect knowledge of distribution. This startup has the potential to become an iconic success story and we are confident that it will become the world leader in its market in the coming years. We are pleased to provide our experience and support. " --------------------------------
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