Syrup raises $6.3m in Seed funding from Google’s AI-fund

Platforms
Written By Rick Watson

Syrup Tech is an AI-powered predictive software for inventory decisions in commerce.

There is definitely a need for sku-level inventory planning in difficult to forecast categories like apparel. There are two big problems.

One, AI needs to be trained on consistent data, and there is nothing consistent about the environment in the past 3 years.

Two, even if you can order the right amount, you can't be assured it will show up on time.

Both of these factors are headwinds to a tool like this in the short-term.

Syrup Tech: Syrup raises $6.3m in Seed funding from Google’s AI-fund

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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