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Nextail, which applies big data to shop inventory management, receives a €1.6M round of funding


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BY : Diego GutiérrezSeptember Tue, 2016
Nextail is a Spanish company founded in 2014, already operating in Spain, Italy, France and Russia, with plans to expand into the UK next year. The company has just closed a round led by Nauta Capital.

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About Nextail

 

Nextail, specialises in the use of big data to manage the inventory of large-scale distribution companies and optimise their resources. Nextail uses a complex tool based on machine learning and artificial intelligence to advise shops on the products in their catalogue that are most likely to be sold at any given time and in any given location. In this way, it seeks to reduce product stock to the maximum, maximising sales margins, reducing the complexity of inventory management and limiting the number of products to be sold at a discounted price to the maximum.

It has clients from the fashion sector such as Kiko Milano, which has a network of 800 shops, and the Spanish company Amichiwhich operates 200 outlets.

This company was founded in 2014 and has already received a total of $2M in two investment rounds, one closed in 2015 and the one that has just closed.

The funds raised will be used to accelerate product development, boost sales and invest in marketing. "We will reach out to new brands to help them sell more with less inventory," adds the co-founder of the technology company.

Nextail joins the list of Spanish Big Data companies that have won rounds this year.

 

The use of big data is proving very successful in many different verticals. This year we have witnessed several rounds of investment in Spanish startups that use big data in their business model. Some of them, such as Jobantalent  or Enigmedia  we have already told you about.

In addition, there have also been some major international rounds recently, such as the one closed yesterday by Datorama of $32M. Datorama is a SaaS platform for advertising agencies using big data for analytics.

 

If you are looking for investors, please contact us. Abra-Invest has a team of experts in alternative financing at your disposal. Call us on + 34 946424142 or fill out the contact form

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