LONDON – Kavida.ai, a dynamic player in the supply chain sector, has successfully secured an additional £900,000 in funding, earmarked to bolster its platform with the integration of the advanced artificial intelligence tool, ChatGPT.
Headquartered in London, the company is dedicated to empowering manufacturers and retailers in the realm of procurement risk mitigation. By harnessing sophisticated order management systems, Kavida.ai equips users with the capacity to proactively detect, track, and effectively manage potential issues pertaining to supplier orders, preempting any detrimental impact on business operations.
The cornerstone of this expansion effort rests upon a seed investment initiative, spearheaded by Qima, a renowned provider of solutions catering to supply chain quality and compliance. The investment consortium also features participation from Red Bus Ventures, alongside a cohort of distinguished UK angel investors, including influential figures such as Chris Adelsbach, Jack Cresswell, and Christopher Carter.
This substantial financing endeavor is poised to galvanize the evolution of Kavida.ai’s innovative supply chain ChatGPT. This augmented technology serves as a conduit for procurement managers, enabling them to engage in vital dialogues with a Co-Pilot. The cutting-edge tool unlocks real-time visibility into the status of orders across the entirety of the fulfillment process, a feat that empowers proactive decision-making.
In addition to amplifying technological capabilities, the infusion of capital will catalyze the recruitment of top-tier expertise, further enhancing Kavida’s team of proficient AI specialists and adept data scientists. This strategic advancement marks a pivotal juncture for the startup, having been founded in 2020. It follows a prior funding milestone, wherein the company successfully raised £300,000 in pre-seed capital from strategic investors in 2021, culminating in a total funding influx of £1.2 million.
Anam Rahman, the Chief Executive Officer at Kavida.ai, exuded optimism, stating, “We are thrilled to have secured this investment enabling us to accelerate a 10-year product vision into an immediate reality. In these tumultuous times, supply chain disruptions are pervasive, necessitating instantaneous access to data. The transformative ChatGPT and LLM breakthroughs promise to reshape the way users interface with critical data, positioning us as pioneers in the realm of AI co-pilots for the supply chain”
Sebastien Breteau, the Founder and CEO of Qima, expressed fervent support, stating, “Harnessing the power of LLMs to efficiently identify and communicate supply-chain risks to businesses is a promising leap forward. We are enthused to bolster Kavida’s vision in dynamically monitoring these risks, capitalizing on the potency of AI”.
This recent seed funding milestone follows closely on the heels of Kavida.ai’s successful acceptance into Digital Catapult’s Supply Chain Hub program. This notable accomplishment promises potential funding of up to £100,000, dedicated to the development of innovative solutions geared toward enhancing the visibility of inventory within supply chains, with a specific focus on the UK’s automotive manufacturing sector.
