Centro, a Canada-based startup and e-commerce brand automatic inventory control centre, has raised $2m in a pre-seed financing round.
Led by Ripple Ventures and 2048VC, the round was joined by Valia Ventures and Comma Capital.
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Centro will leverage the proceeds from the funding to add features such as forecasting and procurement automation to its offerings as it prepares to launch new marketing initiatives across North America.
The platform increases brand revenue while saving time by driving more sales with a fully stocked inventory.
Ripple Ventures partner Dom Lau said: “Centro is perfectly timed to address the fashion retail sector’s escalating demand for a centralised inventory hub. As the pioneer in SaaS solutions for inventory risk management and logistics, automation is fuelling the platform’s expansion and unlocking valuable revenue streams.
“With a top-tier team specialising in retail inventory, Centro is delivering a game-changing solution precisely when supply chain challenges are plaguing the retail industry.”
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By GlobalDataCentro was formed by professionals from major retailers such as Shopify and Vividseats in 2022.
The Toronto-based company provides inventory risk and supply chain solutions for small business owners and consumer brands.
Its angels and advisors include individuals from WeMakeWebsites, Canada Goose and Uber, respectively.
Centro CEO and co-founder Jamyang Tenzin said: “By offering automated inventory and supply chain tools for brands at any scale, Centro has an immediate impact on a brand’s bottom line.
“Centro helps e-commerce retailers quickly and efficiently stay on top of inventory supplies and plan for peak sales windows to maximise revenue opportunities. We’ve found that growing brands will face on average $120,000+ in unforeseen risk across their supply chain and this is rapidly multiplying with the holidays approaching.”
