The supply chains had a few years a few years, starting in 2020, when the Covid -9 uploaded global supply chains. More recently, the “Tiktok-reaction” of retailing has companies such as Shein and Temu are constantly creating new products, as consumers require changing rapidly.
Pendulum Its purpose is to help companies better plan offering and demanding on this new custom economy.
Pendulum’s software connects all of a company’s fragmented internal sources, such as stock, supplies and pricing, to a model powered by AI intended to help companies predict and optimize their supply and demand.
Co -founder and Managing Director Benjamin Fels told TechCrunch that receiving the right to offer and demand helps companies not only improve their margins but also reduce waste. “The most powerful thing you can do as a retailer to make it more viable is absolutely nail supply against demand,” Fels said. “If you know what you do, you will dramatically restore your activities and increase your margins on a huge scale.”
Fels initially got the idea of the pendulum, having spent years on the floor of derivatives negotiating and supervising groups that manufacture AI forecasts for supply and demand on the economic side. Fels said he was wondering if the same approach would also work for supply and demand in the supply chain world.
He started the macro-eye in June 2013 with the SUVrit Sra on MIT to find out. The couple spent years of research and development around this concept. When the company was ready to commercialize and increase the institutional capital in 2023, they were rebuilt.
Pendulum is now working with businesses throughout retail, health care and national defense. Victoria Secret-owner adores me and the US Department of Defense is customers.
Pendulum announces a $ 22 million funding round, which includes $ 11 million non -distinguished capital for research and growth and $ 11 million in business capital, such as: Capital LowerCarbon, cross -border impact companies and decisive. Fels said the company plans to use funding to help the company reach a basic set of customers, continue to increase its customer base and improve its product.
In addition to funding news, Pendulum also announced that Jean-François Gagné, co-founder of Element AI-acquired by Servicenow in 2020 for $ 230 million-was led by the company as head of strategy and products.
“I realized that JF not only had this insight to bring AI to the business, but also this rich story throughout the supply chain and many of these fundamental optimization problems,” Fels said. “After multiple three -hour conversations, it just clicked on the fact that JF had to drive the vision of the product and had to lead the strategy around how we got it on a scale.”
The technology of the supply chain has become a hot category since the pandemic has underlined the fragility of existing global supply chains. Fels believes that the pendulum stands out because its algorithmic approach was built in a decade of research and development.
“People have been trying to optimize supply chains for 5,000 years,” Fels said. “In the last two or three years, the volatility and uncertainty both around the supply and around demand, as soon as every retailer hit, every organization exposed to the supply chain, with enormous power. We thought it really required a different kind of reaction . “
