Autone Secures $17 Million for Retail Innovation
On October 16, in the vibrant city of London, autone, an AI-powered platform dedicated to transforming retail inventory management, proudly announced the completion of a significant $17 million Series A funding round. This funding initiative was spearheaded by General Catalyst, with support from various existing Seed round investors such as Speedinvest, YCombinator, Seedcamp, 2100VC, Motier, and Financière Saint James. Additionally, influential business angels associated with renowned brands like LVMH, Sephora, and Moncler also participated in this landmark investment, demonstrating strong confidence in autone's revolutionary approach to retail.
autone has rapidly gained a reputation among prominent global retail brands including Courreges, Roberto Cavalli, Stussy, and Zadig & Voltaire.
The platform was founded by the visionary duo, CEO Adil Bouhdadi and CTO Harry Glucksmann-Cheslaw, who previously developed the intelligence platform for the iconic fashion house, Alexander McQueen. With this considerable financial backing, autone is set to bolster its market presence in the United States while simultaneously enhancing its product and engineering teams. The infusion of capital aims not only to accelerate product development but also to drive expansion efforts and increase hiring both in the US and Europe, positioning autone as an indispensable tool in the retail sector.
The retail landscape is becoming increasingly complex as brands grapple with a multitude of distribution channels and intricate global supply chains. To combat these challenges, autone employs advanced predictive analytics and machine learning technologies to deliver precise demand forecasts, streamline sales processes, and minimize waste. By harnessing the power of data, the platform processes over 100 million data points per customer, translating them into actionable insights that can lead to remarkable outcomes—such as a staggering 55% reduction in inventory levels, a 25% boost in forecasting accuracy, and a 30% increase in sales. With customers like Roberto Cavalli recognizing the substantial ROI achievable through autone's innovative system, it is evident that the platform is not only revolutionizing traditional inventory management but also contributing to a more sustainable and profitable future in retail.
They've invested in autone
Get to know these AI investors
| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  General Catalyst | 15 investment(s) investment(s) | more info | |||
2 |  Speedinvest | 15 investment(s) investment(s) | 20 contacts contacts | |||
3 |  YCombinator | investment(s) investment(s) | more info | |||
4 |  Seedcamp | 22 investment(s) investment(s) | more info | |||
5 |  2100VC | 1 investment(s) investment(s) | more info | |||
6 |  Motier | investment(s) investment(s) | more info | |||
7 |  Financière Saint James | investment(s) investment(s) | more info |
Click here for a full list of 6,528+ startup investors in the UK