Porto, July 12, 2016 – Sonae IM, Sonae’s Corporate Venture Capital, has just announced the investment in InovRetail, becoming a reference shareholder in the technology startup.
InovRetail’s core business is focused on advanced analytics tools, aiming to assist retailers in improving their performance, by making more informed decisions. Sonae IM will play a decisive role in supporting InovRetail to become a global data analytics reference for retailers.
InovRetail’s solutions allow retailers to adjust their offer and increase sales by processing their data, as well as in making highly reliable predictions. Moreover, these tools will create opportunities for retailers to improve their customers’ in-store experience.
Over 500 reference retailers’ stores have implemented InovRetail solutions, in diverse segments such as sports, consumer electronics, fashion, food, among others.
Sonae IM believes that InovRetail’s distinctive and innovative positioning, together with the quality of the management team, is key in turning this company into a global player in its field. The immediate steps include accelerating growth in existing markets, as well as penetrating new ones, through the investment in building up the team, improving their SaaS platform and reinforcing R&D.
InovRetail’s ambitious plan for global expansion will be sustained by a highly experienced retail tech team, specialized in data and predictive analytics.
Marco Soares, InovRetail co-founder, stated: "we are very excited about this new phase at InovRetail and on having Sonae IM as a reference shareholder. We believe we have found the best partner for the challenges ahead”. André Sousa, InovRetail co-founder believes that "with Sonae IM as a strategic partner, we have everything to reach our goals of becoming a reference and global player in predictive analytics solutions for retailers.”
Eduardo Piedade, Sonae IM executive board member, highlighted that "we believe in the underlying potential of InovRetail in becoming a global player, and we will help to accelerate the company’s growth. This investment approach is aligned with Sonae IM’s strategy – to invest in teams and companies with great global growth potential, with distinctive technologies for the retail vertical”.
InovRetail supports the retailer’s decision-making process, helping them to adjust their offer to customers’ needs, to understand and anticipate customers’ behavior, and to predict sales with a high degree of reliability in real time. InovRetail solutions are designed to be simple to use, running on multiple platforms, with the ability to be integrated into the retailer’s current IT systems.
For additional information, visit www.inovretail.com.
ABOUT SONAE IM
Sonae IM is Sonae’s Corporate Venture Capital, focusing on investing in tech-based companies for the retail and telecommunication verticals. With a flexible investment approach, Sonae IM aims to support companies in growth stages, always as a strategic partner for their development. Currently with portfolio companies WeDo Technologies, Saphety, Bizdirect, S21SEC, Movvo and Bright Pixel (Company Builder Studio), Sonae IM is present in 13 countries and has 1,000 employees.
For additional information, visit www.sonaeim.com.
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