Ameba raises $7.1M Seed round to transform global supply chains with its AI-driven platform
Ameba’s AI-powered platform gives brands real-time insights into their sprawling supply chains, providing a single source of truth to manage inventory
Founded by Cedrik Hoffmann, co-founder of e-commerce giant VALOREO, and former Palantir engineer, Craig Massie, the world-class Ameba team is a leader in supply chain, deep tech, AI and quant expertise
Ameba will use its Seed round to expand into new territories in the $45.2bn global supply chain market
London, 2nd October, 2024: Ameba, the AI-driven platform helping companies manage and unlock growth from their complex supply chains, has today announced a $7.1M Seed round led by Hedosophia. Leading European early-stage investor Visionaries Club reinvested, having led Ameba’s pre-Seed round, and Anamcara also participated.
A single source of truth
Ameba’s world-class team of supply chain, AI, quant and deep-tech experts is led by founders Cedrik Hoffmann, former supply chain director and co-founder of e-commerce giant VALOREO, and Craig Massie, the former Palantir engineer who built the S&P 500 firm’s best-in-class data privacy tool.
By leaning on the pair’s experience of solving the most complex business and data challenges, the Ameba platform uses AI on top of existing software to give brands unmatched, real-time, bespoke insights into their global supply chains. It automates the extraction of data in multiple languages from sprawling sources – emails, WhatsApps, PDFs, Excel and more – and brings it into a single “source of truth” platform. With insights into the source and status of every product on a chain, brands can predict disruptions; react to bottlenecks; and get unprecedented visibility into their sustainability efforts. In this way, Ameba empowers brands to become more dynamic and agile in their response to the ever-changing demands of consumers, regulators and industry.
With Ameba, businesses can significantly streamline operations, too, reducing manual data input by 30%, and tackling critical weaknesses along the chain. On average, 50% of supplier orders are delayed, leading to stockouts and resulting in an average of 8% of unrealised revenue annually. Such delays are rarely caused by unexpected events, but rather by persistent and often overlooked inefficiencies; inefficiencies Ameba is built to address. To put the impact of these inefficiencies into perspective, improving suppliers' on-time delivery (OTIF) to 100%, alone, can cut operational costs for companies by as much as a fifth. What’s more, cutting supply chain costs by as little as 4% has been shown to double profitability.
Market challenges
More broadly, supply chain disruptions can hurt global GDP growth, fuel inflation and see the average business make losses of 62%. Stock shortages bring competitive challenges, with 40% of customers willing to switch brands to find out-of-stock items, as do the constant pressures to adapt to consumer demands and regulation. Established brands, for instance, introduce anywhere from 12,000 to 1.3 million new products a year, creating not only a stock management, but a sustainability challenge. At the same time regulators in the EU are requiring supply chain transparency, through Digital Product Passports (DPPs).
These problems are endemic across industry but are critical in sectors such as fashion which have historically lagged behind in digital transformation, yet are under the most pressure to adapt.
"Brands today face intense pressure to meet rapid shifts in consumer trends while delivering on expectations for fast, low-cost, and sustainable supply chains,”
said Cedrik Hoffmann, co-founder and CEO of Ameba.
“Many of the biggest names in fashion still manage their supply chain data on Excel and communicate with suppliers via email or WhatsApp. We want to transform customers’ operations while meeting them where they are today. With Ameba, we’re turning supply chains from bottlenecks into engines of growth.”
“With brands constantly juggling data, managing sprawling inventories and fighting fires across their supply chains, they have no choice but to be reactive; to address the task or fight the fire directly in front of them,”
said Craig Massie, co-founder and CTO of Ameba.
“They rarely have time to take a step back, look at their supply chain as a whole and identify areas of untapped efficiency and growth. Ameba finally transforms these reactive processes into proactive solutions that are only possible due to our team’s deep understanding of the market, its challenges and the tech needed to solve them.”
A growing track record
Ameba’s transformative platform and approach has seen the startup attract a growing customer base across the consumer goods and home decor markets. British interior hardware and lighting company, Plank uses Ameba to manage 300+ products from over 20 suppliers across Asia and Europe, in real-time. Within the first three months
Ameba generated over 140 alerts highlighting critical production and delivery delays that would have previously been missed or overlooked. While Evelien Kahn, founder and CEO of MDV said: "Ameba has changed how we operate. Not only are we on top of our supply chain, including inbound and outbound orders, but we’ve also become more scalable and agile.”
More recently, the brand has moved into fashion, onboarding one of Europe’s leading fashion groups, with stores across the Netherlands, Germany and Belgium and suppliers across China and South East Asia. The new funding will fuel Ameba’s further expansion into such sectors desperate for disruption, including fashion and textiles, and accelerate Ameba’s mission to be the go-to supply chain partner for all.
Isabella Yamamoto, Principal at Visionaries Club, added:
“We’ve seen immense downward pressure on supply chains across all industries, with organisations fighting against increasing complexity and fragmentation in their supplier base. After speaking to many supply chain owners, we were convinced that Cedrik and Craig had the experience to build a disruptive business using AI to eliminate fragmentation in supply chains and unlock competitive advantage for brands.”
About Ameba
Ameba is an AI-platform providing a self-updating source-of-truth for a company’s supply chain that draws on all ****supplier communications, attachments, and uploaded files. Ameba allows buying and merchandising teams to instantly collaborate and take immediate actions on the latest data to prevent stockouts, reduce costs, and automate manual data inputs. Ameba was founded in 2023 by the co-founder and supply chain director of VALOREO and the engineer behind Palantir’s leading data privacy tool.
About Hedosophia
Hedosophia is a global early growth investor that supports category-defining Internet and technology companies. The company is based in London, England, United Kingdom.
About Visionaries Club
Visionaries Club is a leading early-stage venture capital fund with offices in London and Berlin, investing across Europe through its Seed and Early Growth funds. Visionaries’ LP community unites Europe’s leading unicorn founders with a huge network of family business entrepreneurs, who are looking to digitise traditional industries. This includes founders of successful tech companies UiPath, Miro, Wolt, Flixbus, Supercell, Zalando, Mollie, Spotify, Personio, Adyen, HelloFresh and Skype alongside industrial giants such as Swarovski, Miele, Mittal, Haniel, Stihl, and Siemens. With its unique network and B2B investment focus, Visionaries is bridging the information asymmetry of “what's possible” in the technology startup space and “what is actually needed” in the industrial space by partnering with the next generation of software superstars.
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