A company that uses digital twins and artificial intelligence (AI) to optimise supply chains has announced £17m in new funding from investors.
7bridges’ platform, called LEO, analyses and standardises data across logistics operations, including the performance of suppliers.
A spokesperson for 7bridges told Supply Management: “Specifically regarding procurement, it's really challenging for businesses to compare and contrast logistics service contracts (as they don't behave like commodities). Our AI (LEO) can rapidly analyse existing supplier performance and costs, and simulate the business impact of new proposals.”
The software platform connects demand to supply, unifying data to detail every shipment to ensure the right stock is in the right place at the right time, said the spokesperson.
By building a digital twin of a client’s networks, the LEO AI can stress-test risks and opportunities for cost and performance improvements.
Investors include venture capital firm Eight Roads and shipping giant Maersk.
Founded in 2016 by Matei Beremski and Philip Ashton, the company has raised $20m to date.
Beremski, 7bridges CPO and co-founder, told SM: “We'll be extending our platform to cover more integrations, improve our optimisation AI to handle more edge cases and keep improving our interfaces to keep simplifying and automating more logistics processes under one platform.”
Oliver Finch, investment partner at Maersk Growth, said: “The last two years have drawn supply chains directly into the commercial spotlight. There is an urgent need to innovate in the sector and maintain access to goods we rely on. 7bridges have developed a novel technology solution to digitalise the design, management and optimisation of supply chains.”
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