Retail tech startup Another has successfully raised a $2.5 million seed round led by Anthemis FIL and Westbound. The funding aims to enhance the way retailers manage excess inventory through innovative technology solutions.
Founder Corina Marshall, with over a decade of experience in retail digital marketing, identified a gap in the industry related to off-channel inventory management. She observed that existing technology for selling unsold products was inadequate, leading to financial losses for brands. This inefficiency stemmed from challenges in tracking inventory, estimating product value, and determining optimal sales timing.
In response to these issues, Marshall launched Another in 2024, offering a software platform designed to streamline the management of surplus inventory. By facilitating real-time data access and workflow coordination, Another enables retailers to make informed decisions quickly, improving operational efficiency.
The company’s recent funding round will support accelerated product development and team expansion. Marshall highlighted the significance of the investment in advancing Another’s capabilities and addressing market demand for improved inventory management solutions.
Competitors in this space, such as Ghost, also focus on assisting brands with selling excess inventory. However, Another’s approach emphasizes integration with existing software systems to centralize data and optimize decision-making processes.
Source: TechCrunch