Kavida.ai, a supply chain startup based in London, has secured an additional £900k investment to enhance its platform with the artificial intelligence tool, ChatGPT. This funding round was led by Qima, a provider of supply chain quality and compliance solutions, and included investment from Red Bus Ventures and several prominent UK angels, such as Chris Adelsbach and Jack Cresswell.
By incorporating ChatGPT into its order management systems, Kavida.ai helps manufacturers and retailers mitigate risks in procurement. Users are able to detect, track, and manage issues related to supplier orders before they have a negative impact on the business. The technology provided by ChatGPT offers real-time visibility into the status of any order throughout the fulfillment process, empowering procurement managers to make informed decisions.
In addition to platform enhancement, the investment will be used to attract top-tier talent, including AI experts and data scientists, to strengthen Kavida.ai’s team. This represents a significant milestone for the startup, which was established in 2020, and follows a previous raise of £300k in pre-seed capital in 2021. Overall, Kavida.ai has now raised a total of £1.2m in funding.
Anam Rahman, CEO of Kavida.ai, expressed enthusiasm about the investment, stating, “We are thrilled to have secured this funding, allowing us to bring our 10-year product vision to life sooner. In today’s unstable times, supply chain disruptions are common, and procurement managers need instant access to data to monitor their orders and proactively address any potential issues or delays. The breakthroughs provided by ChatGPT and LLM technology will revolutionize the way users interact with this data. We are excited to lead the way in AI co-pilots for the supply chain.”
Sebastien Breteau, founder and CEO of QIMA, also commented on the investment, saying, “The use of LLMs to identify and efficiently communicate supply chain risks to businesses is a promising achievement. We are excited to support Kavida’s vision of real-time risk monitoring, leveraging the power of AI.”
This seed investment announcement follows the recent news of Kavida.ai’s successful admission into Digital Catapult’s Supply Chain Hub program. As part of this program, the company will receive up to £100k to develop innovative solutions for supply chain visibility of inventory, specifically targeting UK automotive manufacturers.
Kavida.ai has secured £900k in funding to enhance its supply chain platform with ChatGPT technology. This investment will enable the company to provide real-time order tracking and management capabilities, as well as attract top talent to strengthen its team of AI experts and data scientists. The startup aims to revolutionize the way procurement managers interact with supply chain data and proactively address risks.
