Ooodles Secures $2.5 Million for IT Expansion
Ooodles, a cutting-edge provider of an IT procurement platform based in London, UK, has successfully secured $2.5 million in extension funding to bolster its innovative operations. The funding round saw the participation of prominent backers such as Ältitude VC, alongside contributions from existing investors and Traditum. This financial influx is set to play a vital role in advancing Ooodlesâ AI-powered proprietary technology, known as Ooodles OS. Additionally, the capital will facilitate the companyâs ambitious plans for international expansion, enabling it to introduce its on-demand IT solutions to over 309,000 small to medium-sized enterprises (SMEs) in Ireland for the very first time.
Founded in 2021 by visionary CEO Leonardo Poggiali and skilled CTO Kannan Reghu, Ooodles has made a significant impact in the fintech landscape.
The company stands out as a FCA-regulated entity focused on providing SMEs with Device-as-a-Service leases for essential IT hardware. With an emphasis on sustainability, Ooodles operates on a circular platform that utilizes AI to promote device longevity and recycling through a robust reuse-recycle model. Their innovative approach allows businesses to take advantage of Pay-As-You-Go plans, dramatically transforming the way they access and utilize technology without the burden of upfront costs.
From a single, streamlined platform, SMEs can handle a wide range of operations, including credit approvals, inventory management, and equipment upgrades, all with a high degree of transparency. Ooodles alleviates the stress associated with device repairs and end-of-life processes while leveraging artificial intelligence to assist businesses in assembling device fleets that align closely with their specific operational needs. By adopting a system where they only pay for the technology they truly require, SMEs experience significant cost savings and enhanced cash flow. This financial flexibility empowers them to be more responsive to market demands, ultimately driving productivity and innovation while contributing positively to global efforts aimed at reducing electronic waste.
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