- Solvo.ai raised $4 million to build its own machine learning technology for the logistics industry.
- The startup aims to help logistics firms build more flexible and resilient supply chains.
- Check out the 12-stone pitch decked startup to raise funds in the seed round below.
British startup Solvo.ai has raised $4 million in seed funding to boost its machine learning technology to help logistics companies build more resilient supply chains.
The London-based startup, founded in 2021 by mechanical engineers Gaurav Bajaj and Dongho Kim, a former machine learning engineer at Apple, aims to address the growing volatility that has challenged the logistics industry in recent years through artificial intelligence.
Macron’s problems with both the COVID-19 pandemic and the Ukraine war have exposed several weaknesses in supply chain logistics, including a lack of agility to respond to fluctuating demand, as well as a lack of resources to arm bottles, which have imposed inflationary pressures. economy.
“Logistics is a $5 trillion industry and the backbone of global commerce. But the disruption caused by COVID-19, trade wars and the conflict in Ukraine has just shown how vulnerable supply chains are,” said Solvo.ai CEO Bajaj.
“With the accelerating impact of climate change and pressures around the transition to net zero and sustainability, the future looks even more uncertain and complex.”
To tackle these challenges, Solvo.ai has developed an initial product that it calls an “AI-powered dynamic force engine” that works as a “central cross-functional brain” – a product focused on helping design engineers own the region. to better understand the pricing through technology that responds to the current situation.
AI is equipped with existing logistics data – whether external market indexes or internal historical data – to give logistics decision-making forms more informed information about things, as they require to quickly adapt to new conditions.
Although tech companies are already working through some of these challenges, Solvo.ai believes that the logistics sector “struggles to make the best decisions under uncertainty”, a problem exacerbated by software “based on bulk rules”.
According to the startup, many firms rely even more heavily on basic technology, such as Excel spreadsheets, to plan for uncertainty.
Solvo.ai has raised new funding in a seed round led by European venture capital firms Speedinvest and Frontline Ventures. The startup said it will use the funds to accelerate the commercialization of its technology while expanding its sales and product development teams.
Check out the 12-stone pitch for the money to raise below: