UK’s autone raises €4.2M to maximise business growth by turning data into decisions

London-based autone, a startup that aims to maximise business growth through data-driven inventory optimisation, announced on Thursday, October 5, that it has raised $4.5M (approximately €4.27M) in its seed round of funding.

The investment came from Speedinvest, Seedcamp, and Y Combinator. The round also saw participation from new investors Motier Ventures, Financière Saint James, Kima Ventures, Purple., Better Angle, and 2100 Ventures.

Capital utilisation

autone says it will use the funds to expand its reach in strategic markets, accelerate its product development and strengthen its partnerships to drive innovation.

“This marks a significant milestone in our mission to bring radical efficiency to the retail industry. We strongly believe that we will make a lasting impact on improving retail efficiency!” says autone.

Reimagining inventory management

Founded in 2021 by Adil Bouhdadi and Harry Cheslaw, autone specialises in maximising growth for businesses through data-driven inventory optimisation. By leveraging data analytics, it helps businesses reduce stock-outs and excess inventory. 

According to the company, the result is confident, sustainable, and profitable inventory decisions, ensuring products are available when needed while minimising costs and maximising customer satisfaction.

Both founders are seasoned business scientists with a decade of experience. They founded autone to address the widespread struggles in inventory management faced by their industry peers. 

Drawing from their successful track record in building data-driven supply chains for retail giants like Kering and LVMH, they established autone as a global solution provider. 

Their expertise offers businesses a sophisticated approach to inventory management, solving challenges and optimising supply chains on an international scale.

Services provided by autone

autone offers a comprehensive suite of services tailored to meet the needs of businesses at different stages of their product lifecycle:

• Pricing: autone helps businesses establish a price tag that aligns with market dynamics and earns customers’ trust. Their data-driven approach ensures accurate pricing at every stage of a product’s lifecycle, enhancing competitiveness and customer satisfaction.
• Buying: The data-driven Buying module facilitates collaboration between merchandising and finance teams. It helps businesses to make confident product range decisions, driving growth by aligning offerings with market demands and consumer preferences.
• Replenishment: autone ensures businesses always have the right inventory for their store network. Through automatic stock replenishment based on data insights, they prevent stockouts, guaranteeing customers are never disappointed and enabling consistent service quality.
• Reorder: The startup’s Reorder module maximises the potential of bestsellers. By leveraging forward-looking visibility and early trend identification, businesses can proactively manage demand. This strategic planning ensures that popular products are always in stock, meeting customer demands efficiently.
• Insights: autone’s Insights module provides stakeholders with actionable data-driven insights. By basing strategies on facts rather than guesswork, businesses can gain a deeper understanding of daily changes across the organisation.

The company says, “We can efficiently work with your data, regardless of its format or structure. Our integration process is designed to seamlessly connect with your ERP or other data sources, allowing us to retrieve all data and provide you with the most accurate recommendations.”