Shelf Engine Gets $41m in Fresh Funding
Shelf Engine offers a technology platform to grocery stores that help them manage their food orders. The application helps them streamline the order process and reduces wastage as the predictive analysis in the tool helps the chains get the right amount of food products on the shelves. The reduced wastage translates to reduced costs and, thus, higher profitability. In a recent announcement, it was noted that Shelf Engine received new funds of $41 million. General Catalyst led this Series B round, and it takes the total funding to $58m
What is shelf engine series catalyst 58msopergeekwire ?
Getting into more detail, Shelf Engine uses a forecasting tool that is coupled with automation systems. The tool looks at the data points from historical order and compares them with the sales data. It also adds real-world variables like the holiday season, weather conditions, and other similar data points. The application then manages the inventory and places the order itself. The tool also takes care of the vendor’s payment and charges the retailer accordingly.
Some of the prominent clients of Shelf Engine include Kroger & Walmart. In a way, Shelf Engine owns the produce until someone buys it from the store. The revenue for Shelf Engine comes from the markup price it adds during the transition from the vendor to the retailer.
In an article on GeekWire, Taylor Soper stated that Shelf Engine is acquiring new customers at a steady rate. It can lower the cost of the operations for such chains, and it is also able to ensure that the customer gets fresh produce. Shelf Engine is also serving Amazon in its endeavor to set up Amazon Go convenience stores and Amazon Fresh Grocery Stores.
It will be interesting to see how solutions from Shelf Engine shape the future of the grocery industry. The tools have a lot of potentials to remove inefficiencies from the system. So shelf engine series catalyst 58msopergeekwire means Shelf Engine raises $41 Million to help grocery giants manage their orders