Onebeat, an AI-enabled retail-tech company based in Tel Aviv, Israel, has secured an additional $10 million in funding.
The funding round was led by Magenta Venture Partners, with participation from AnD Ventures, INcapital Ventures, J-Ventures, Surround Ventures, and Wilson’s Bird Capital.
The fresh funding will be utilized by Onebeat to fuel the expansion of its retail platform, enhance business operations, and support its plans for new business growth.
The company, founded in 2018 by Dr. Yishai Ashlag (CEO) and Avihai Shnabel, specializes in providing a Software-as-a-Service (SaaS) solution empowered by artificial intelligence (AI).
This innovative platform offers mid-market retailers flexibility and inventory visibility, enabling them to reduce costs and expand profit margins.
Onebeat has its roots in Goldratt Consulting, an internationally renowned firm known for its expertise in supply chain management.
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The company’s origins lie in the Theory of Constraints (TOC), a management philosophy introduced by Dr. Eliyahu M. Goldratt in his influential book, “The Goal,” published in 1984. Onebeat aims to assist organizations in continually achieving their goals by leveraging the expertise of Goldratt Consulting.
Over the past year, Onebeat has experienced significant growth, with its client base more than doubling in size. It has formed partnerships with over 170 retailers across 26 countries, operating in diverse sectors such as fashion, footwear, jewelry, pharmacy, and beverage.
Notably, Onebeat collaborates with globally recognized retail leaders including Calvin Klein, American Eagle, Crocs, and the retail division of TATA Group.
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The latest funding infusion will enable Onebeat to further strengthen its retail platform, enhance its operational capabilities, and drive its vision for new business growth. By harnessing the power of AI and innovative SaaS solutions, Onebeat aims to empower mid-market retailers by improving efficiency, reducing costs, and enhancing customer satisfaction.
As the retail industry continues to evolve and adapt to changing market dynamics, Onebeat’s AI-enabled retail platform positions the company as a key player in revolutionizing inventory management, supply chain optimization, and operational efficiency. With the new funding, Onebeat is poised to solidify its position as a leader in the retail-tech industry and deliver transformative solutions to its growing client base.
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