Auba raises $3.5 Million to revolutionize supply chains with AI
For globally-minded companies, robust supply chains are critical. This requires comprehensive communication systems with constant flow between players.
Auba (Desteia), a startup leveraging Machine Learning and Natural Language Processing (NLP) technology to radically improve supply chain management and planning, has raised $3.5 million in pre-seed funding. The investment was led by Nazca, Foundamental and Village Global with Bridge partners, Nido Ventures, 0BS and angel investors also participating. The remote-first company, with a founding team that has experience from Tesla, Walmart, LVMH and Blend, will use the funds to further grow the team and accelerate product development.
For globally-minded companies, having robust and resilient supply chains is critical. Achieving this rests on having comprehensive communication systems – a constant flow of back and forth between different players at different points of the chain. However, the valuable data and insights in these conversations are currently trapped in emails, attachments, and instant messaging platforms. Existing software solutions are costly and complex to implement and most companies continue to rely on manual relay of conversations and manual data entry.
Auba was founded in 2023 to fix this problem with an end-to-end approach – something which until now has been unseen on the market. By using proprietary AI technology, Auba gives supply chain managers and operators the ability to harness the insights held in conversations as well as the ability to map out their supply chain networks and get an overview and alerts of potential disruptions. In the long term, this converts to an AI assistant that learns and evolves with the company.
Adaptable across industries, the startup is targeting the largest markets in North America: automotive; machinery; electronics; retail and food; pharmaceuticals and medical devices. In the past 20 years, the value of intermediate goods traded globally has tripled to more than $10 trillion annually, giving Auba a massive market potential. Recently, Mexico was identified as a more influential trading partner for the US than China, something which Auba is tapping into given the inter-continental presence and foundation of the company.