Plato closes $14.5M to bring AI automation to wholesale trade
Berlin-based startup Plato has secured $14.5 million in seed funding to integrate generative AI into the wholesale distribution sector. This significant investment, led by Atomico with participation from Cherry Ventures, Discovery Ventures, and D11Z, aims to modernize a traditionally technology-averse industry. The move signifies a push to bring advanced AI automation to a crucial but often overlooked segment of global commerce. The funding will be used to develop and deploy Plato's AI-powered platform, designed to streamline operations within wholesale trade. This includes automating tasks such as order processing, inventory management, and logistics optimization, leveraging the capabilities of generative AI to enhance efficiency. The goal is to tackle the complexities of supply chain management with cutting-edge technology, a significant departure for an industry reliant on established, often manual, processes. This development is poised to impact a vast network of businesses within the wholesale distribution ecosystem, potentially leading to increased profitability and reduced operational friction. By introducing sophisticated AI solutions, Plato is contributing to the broader trend of digital transformation within European industries, fostering greater technological adoption and potentially enhancing the competitiveness of European wholesale businesses on a global scale.
Curated and translated by Europe Digital for our multilingual European audience.
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