Syrup raises $6.3M in Seed funding from Google’s AI-fund

We’re excited to share our latest round of funding. Here’s what we’re going to do with it.

Why we’re building Syrup

In a world with deep supply chain disruptions, true omni-channel networks, and sustainability-minded consumers, there is a need for next-generation inventory systems.

That’s why we’ve built Syrup Tech, an AI-powered predictive software for inventory decisions in commerce. By leveraging more data in real-time, we empower merchandising and planning teams with allocation, ordering, and planning recommendations.

Our hope is for commerce to no longer be a wasteful industry, as our intelligent platform empowers inventory excellence at every step in the value chain.

The new partners who are joining us on our mission

Gradient Ventures is Google’s early-stage AI-focused fund – we’re excited to work closely with the Gradient team and draw on their expertise in scaling AI-powered SaaS ventures.

Next to this Silicon Valley investor, we’re also thrilled to partner with East Coast VC Flybridge Capital and London-based VC Firstminute Capital. Rackhouse’s Kevin Novak, who headed up Data Science at Uber, is another high value add addition.

We’re glad our pre-seed leads 1984 Ventures are doubling down in their support. Furthermore, and with the new Angels joining this round, we’re now working with (former) executives from Adidas, Reformation, Bonobos, Zalando, ASOS, Harrods, Intermix, Olivela, Stripe, Casper, ThredUp and Salesforce.

What we’re doing with the funding

Without giving away too much, this is what the new funding allows us to do:

I. Expanding the product. We’re expanding our list of integrations to integrate seamlessly into any tech stack. We’re building out new workflows, giving our users even more possibilities to self-configure their syrup, and proving more and more functionality to harness the power of our predictive analytics.

II. Developing new use cases: We’re building out new cases along the end-to-end merchandise planning workflow, taking the capabilities we’ve built in data ingestion, demand forecasting, and inventory optimization to an ever-expanding list of use cases.

III. Servicing more customers: Demand for Syrup has outstripped the pace with which we’ve been able to onboard customers this far. The new round of funding allows us to bring the syrup magic to new brands and retailers, empowering more merchandisers and planners with AI-powered recommendations.

We’ve been obsessing over demand forecasting, inventory optimization, merchandise planning workflows and the broader commerce supply chain for the past 2+ years. If you want to learn more about us and our product, schedule a demo with us!

Some more resources

TechCrunch article

Press release