Solvo.ai raises $4m in seed funding to scale logistics pricing platform
Speedinvest and Frontline Ventures co-led the seed round to support commercial growth.
≈ £3.5M at $1 = £0.8704 on 1 Nov 2022
London-based Solvo.ai provides machine learning software to help logistics companies optimise supply chains and pricing.
London-based Solvo.ai has secured $4m in seed funding to scale the commercialisation of its software and expand its sales operations.
The investment round was co-led by Speedinvest and Frontline Ventures. The company develops reinforcement learning tools that help logistics businesses navigate market volatility and manage dynamic pricing.
Gaurav Bajaj and Dongho lead the enterprise, which built its initial product alongside a major global logistics operator. The new capital will allow the team to accelerate business development efforts.
From the founder
"Solvo.ai’s reinforcement learning technology is trained on real logistics data and allows logistics professionals to make better-informed decisions, adapting to their changing goals over time. The optimisation engine can quickly adapt to new situations, helping logistics companies recover faster from disruption by factoring uncertainties into its models,"
Gaurav Bajaj
CEO and co-founder at Solvo.ai
Investor perspective
"There is huge potential in using machine learning to discover new patterns in supply chains that can revolutionise business. The latest developments in deep learning make it possible to capture these patterns through algorithms and identify the most influential factors in supply chain ecosystems, while constantly learning in the process. Gaurav, Dongho, and the entire Solvo.ai team have a highly complementary mix of charisma and ambition, combined with serious technical capabilities. We are very excited to back them in building the leading AI platform in the supply chain industry,"
Rick Hao
Deeptech Partner, Speedinvest
Use of funds
- 01Accelerate go-to-market
- 02Invest in sales and marketing
