Formulate, a SaaS company focusing on AI solutions for retail promotions, announces they have closed a late-seed round of €3.7 million, led by henQ, with the participation of Industrifonden and J12 Ventures. As per the company claims, the funds raised will be invested in international expansion and growing the team.
While most of the analyses and forecasts were done on gut-feel alone, Formulate has designed, developed, and begun to sell Retail DecisionCloud, a cloud-based AI SaaS solution.