Junglee.com and Helion VC founder Ashish Gupta, G100 Companies partner and P&G ex-group president Deb Henretta, Kradle Ventures and Antuit founder Arijit Sengupta, former COO of Antuit Deborah Kops and MarketsAndMarkets founder Sandeep Sugla also took part in the financing, the startup said in a statement.
Founded in 2019 by Shailendra Singh, Deepinder Dhingra, and Pavan Palety, Samya.ai brings deep learning, probabilistic machine learning and reinforcement learning approaches together to help consumer packaged goods (CPG) companies recapture revenue growth potential.
“Demand-supply interactions are becoming very unpredictable and vulnerable, resulting in huge lost revenue opportunity. This trend will continue unless addressed proactively, especially when a large number of CPG companies have been facing saturating growth,” said Co-founder and CEO Shailendra Singh.
The global CPG industry is losing 8%-10% revenue growth potential due to increased scale, complexity and volatility at the intersection of demand and supply operations. This loss is estimated to be $150 billion in the US alone, the company said.
Most of this loss is due to inefficiencies at the intersection of the core sales/distribution, pricing & promotions and inventory operations. The impact of external factors such as evolving weather conditions, macro-economics, consumer preferences further escalates the problems.
“AI/ML powered learning and recommendation systems that augment front line decision-makers are needed to plug revenue leakage,” said Deepinder Dhingra, Co-founder, COO & CPO.
Samya is currently running proof of value engagements with a few Fortune 100 companies in Europe and the US, with its technology team based out of India. “Our goal here is to help build one of the leading cross-border AI SaaS companies out of India,” Sequoia Capital (India) Singapore managing director Shailendra Singh said.