- Amazon’s formidable presence in the world of retail stems partly from the fact that it’s just not a commerce giant, it’s also a tech company — building solutions and platforms in house that make its processes, from figuring out what to sell, to how much to have on hand and how best to distribute it — more efficient and smarter than those of its competition.
- Now, one of the startups that is building retail technology to help those that are not Amazon compete better with it, has raised a significant round of funding to meet that challenge.
- Relex — a company out of Finland that focuses on retail planning solutions by helping both brick-and-mortar as well as e-commerce companies make better forecasts of how products will sell using AI and machine learning, and in turn giving those retailers guidance on how and what should be stocked for purchasing — is today announcing that it has raised $200 million from TCV.
- Relex is not disclosing its valuation but from what I understand it’s a minority stake, which would put it at between $400 million and $500 million.
Ingrid Lunden / TechCrunch - 12 months ago