France

[Funding alert] Paris-based Sales forecasting company Fentech Secures €1.2M in Funding

Oct 18, 2023 | By Startup Rise EU

Fentech, a startup that forecasts sales, receives €1.2M in funding from Elaia.
Retail businesses can now cope with erratic economic times and rising inflation rates thanks to the company's artificial intelligence (AI) system, Clairvoyant, which was built for sales forecasting.

Fentech, a startup that forecasts sales, receives €1.2M in funding from Elaia.
Retail businesses can now cope with erratic economic times and rising inflation rates thanks to the company's artificial intelligence (AI) system, Clairvoyant, which was built for sales forecasting.

It creates forecasts using the most exact information (SKU, retailers) in order to take into account the distinctive features of each product and create the most accurate forecasts.

Read also - Paris-based Hivebrite Raises $37M in Series B Round Funding

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Utilizing four key modules—Demand forecasts, Supply and allocations, Pricing and promotions, and Product discharges and assortments—Clairvoyant analyzes the situation and makes suggestions for actions that will advance the goals of the group while taking into consideration the requirements and limitations of each S&OP stakeholder.

Read also - Amsterdam-based PULSE Sport Secures €250k Pre-Seed Round Funding

In essence, Clairvoyant deals with the problems that manual forecasting and utilizing Excel have in common: taking too long, being overly complex, and having too many parameters.

This funding round, which is supported by the investment firm Elaia and BPI, intends to advance the R&D and commercial departments to be more in tune with clients and their daily challenges.

Read also - UK-based Beta Bugs Secures £1.72M in Funding

About FENTECH

FENTECH, a business that was established in 2018, specializes in aiding in the creation, deployment, and conversion of AI solutions. DSales is a smart sales forecasting tool provided by Fentech. To increase sales and profitability for merchants, our SaaS synchronizes with their ERP systems directly.

Read also -  Belgium-based Ampacimon Secures $10.6M USD Series C Round Funding

DSales forecasts product and store performance issues (out of stock, end of life, overstock) after calculating the projections. Therefore, based on a combination of factors such as pricing, stocks, and product debuts, our algorithms suggest action scenarios. Sales projections are improved by accounting for team knowledge and outside factors.

Read also - Medtech Company Homed-IQ Secures €1M in Funding

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