Kuona, a Mexico-based software-as-a-service platform utilizing artificial intelligence to optimize prices, promotions, orders, and inventory for brands, has announced the successful completion of a seed funding round in which it raised $6 million.
Founded in 2017 by Chema Sanroman and Agustín Magaña, both with backgrounds in data science and artificial intelligence, Kuona developed data-driven tools that can predict demand, track customer behaviour, and integrate with company data in real-time to improve the return on investment of promotions while also boosting sales.
The startup says it is profitable today, and they have clients such as OXXO, the small store chain, and Coca-Cola FEMSA, both linked to Femsa Ventures. A spokesman for OXXO says their satisfaction with Kuona’s results led Femsa Ventures to want to invest in the startup.
The round was led by Mexican venture capital firm Cometa, and also saw participation from Seaya Cathay Latam and Femsa Ventures, both also based in Mexico.
This new funding will enable Kuona to continue its growth and development as it strives to assist brands in maximizing their efficiency and profitability through its innovative AI-powered platform.