London-based Replan, a company that claims to streamline complex supply chain planning, announced on Wednesday that it has raised £2M (approximately €2.4M) in a round of funding led by Hoxton Ventures.
The company has now raised a total funding of over £5M to date.
London-based Hoxton Ventures is an early-stage VC firm that invests in European technology startups. It focuses on startups that either disrupt existing industries or invent entirely new market categories. The firm was the first institutional investor in Babylon Health, Darktrace and Deliveroo, and its portfolio companies have grown to an aggregate value of over $47B. Hoxton typically invests between $500K and $5M into pre-Seed and Seed stage companies.
Hussein Kanji, Partner at Hoxton Ventures, says, “Replan’s technology is key to keeping the manufacturing supply chain efficient and moving. The company is tackling critical planning challenges that went largely unaddressed before Covid, but that cause costs and delays for manufacturers.”
“Redefining complex supply chain planning”
Founded in 2012 by Richard Barter, Replan is a supply chain planning company on a mission to redefine the planning process. Its cloud-based production planning software helps manufacturers navigate disruption and reduce costs through automated production planning optimisation.
With the help of Replan, supply chain companies will be able to transform and scale production planning with a solution that automates and evaluates multiple scenarios, helping manufacturers to reduce cost, increase efficiency, and respond to disruption faster.
The software enables planners to generate complex production sequencing in minutes, automatically applying the right AI algorithm to gain full control over demand forecasting and supply chain planning.
Richie Barter says, “Replan embeds cutting-edge AI modelling and optimisation capabilities within a modern, intuitive user interface to shake up the status quo and revolutionise supply chain planning. The software can streamline even the most complex production plans, helping manufacturers to improve operational efficiency and build more agile and resilient supply chains.”
Replan says that the funds will help support the launch of its new production planning software for manufacturers. The launch comes as supply chains continue to experience disruption due to the pandemic, supply shortages and geopolitical unrest.
The company will also utilise the funds for its market growth in the UK and Europe, as well as future expansion into North America. According to a statement, Replan was picked by investors for its potential for fast growth and ‘innovative’ technology that promises to revolutionise complex supply chain planning with pre-configured AI and advanced analytics.