Seed Funds for Retail Intell Platform Upp.

In the UK, retail intelligence platform Upp. has raised $10m in a seed funding round, which it will use to continue improving its technology, accelerate the growth of its sales and marketing function, expand geographically, and launch new AI/ML-driven automation solutions for retailers.

Founded in 2019 by Ben White and Drew Smith (pictured), Upp. has developed technology to help retailers and branches improve their Google Shopping performance, and retailers uncover insights to increase eCommerce sales. This technology uses artificial intelligence and machine learning to manage the performance of large inventories on Google Shopping in real time, 24/7.

Upp. promises to automatically optimise every SKU in real time, providing a full understanding of purchase drivers. The platform groups inventory on Google Shopping to ensure optimal performance, and then continually analyses business and customer data against the current market for the product. Use of real-time data means Upp. is designed to identify trends before they occur and react to supply and demand intelligence immediately.

New funding was led by US-based Bonfire Ventures. White (pictured) comments: 'The scale and complexity of today's online retail environment has extended beyond the capability of humans alone and needs the support of powerful AI and machine learning technology. The Upp.AI platform enables retailers to excel in a competitive landscape, achieve better results around the clock and align their finance and marketing teams' goals seamlessly. It's great to know that Bonfire shares our vision for tomorrow'.

Web site: www.upp.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.