Startup Snapshot:
Startup name: Celes
Industry: Retail intelligence, inventory management, AI & analytics
Business Model: B2B SaaS
Founders: Luis Almanza (CEO), Luis Miguel Ballestas (COO), David Florian (CTO)
Operations: Colombia, Peru, Bolivia, Guatemala, Argentina, and Mexico
HQ Location: Barranquilla, Colombia
Founded: 2022
Stage: Seed Round
Investors: FEMSA Ventures, Kuiper VC, MatterScale Ventures, Rockstart, Primeline Group, Wayra Hispam, NOA Capital and Storm Capital
Website: https://www.getceles.com/
Crunchbase: https://www.crunchbase.com/organization/celes
Inventory management is key to achieving success in retail and consumer packaged goods (CPG), effective. Retailers often struggle with outdated systems like Excel spreadsheets and manual processes, leading to forecasting, ordering, and inventory control inefficiencies. This antiquated approach hampers decision-making, resulting in unnecessary costs and lost revenue due to inventory imbalances.
The Cost of Inefficient Inventory Management
Today, retailers constantly struggle to maintain optimal inventory levels, and for most of them, this problem translates to significant financial losses:
5% - 18% in lost sales due to stockouts
20% - 30% trapped cash due to overstock
3% – 9% lost gross profits due to deficient promotions
On the other hand, the retail intelligence, inventory management, and AI & analytics market exceeds $100 billion, as it serves both retailers and brands. This indicates a substantial opportunity for businesses to leverage advanced solutions for better inventory management.
Empowering Businesses with Data-Driven Insights: The Celes Solution
Celes is a leading B2B SaaS enterprise solution that leverages AI to help retailers plan, simplify, and optimize their purchasing, distribution, and promotion operations. By focusing on demand planning, inventory optimization, and pricing strategies, Celes helps businesses mitigate the risks of overstocking and stockouts, ultimately boosting profitability and operational efficiency.
How Celes Works
Celes integrates seamlessly with retailers' existing Enterprise Resource Planning (ERP) systems and Electronic Point of Sale (ePOS) systems. It leverages AI to provide optimal replenishment recommendations and actionable insights. By analyzing real-time data and customer behavior, Celes enables accurate demand predictions, minimizing the risks associated with inventory mismanagement.
With a diverse client base that includes retailers, CPGs, and manufacturers, Celes has demonstrated its scalability and effectiveness in transforming inventory management practices.
The Power Behind Celes: Meet the Founding Team
Celes is led by a visionary team with over 45 years of combined experience in finance, operations, and tech:
Luis Almanza, CEO: Luis has a career primarily focused on financial positions, including work as a stockbroker, financial consultant (with a focus on the retail industry), investment banker, and CFO for mid to large companies in Colombia.
Luis Miguel Ballestas, COO: Co-founded Come Ya in 2014, a food delivery app in Colombia, and served as its COO until its acquisition by iFood in 2016. Following the acquisition, he became the Country Manager for iFood in Colombia, leading successful operations expansion from three cities to national coverage.
David Florian, CTO: Brings over 16 years of experience specializing in data management for notable Colombian enterprises such as Ecopetrol, Nutresa, and Bancolombia.
Expansion and Investment
Celes recently completed a seed investment round of $3 million. This capital injection was led by Femsa Ventures, the venture capital arm of Femsa, a Mexican corporation operating in Latin America and Europe in industries such as beverages, retail, logistics, and distribution. Other investors included MatterScale Ventures, Rockstart, Primeline Group, Wayra Hispam, Kuiper VC, NOA Capital, Storm Capital, and personal angel investors like Santiago Gómez, co-founder of Simetrik, and Fabián Carrillo, co-founder of Cluvi.
With this new funding, Celes aims to enhance the customer experience and reinforce its growth plans throughout Latin America, with a keen eye on significantly increasing its footprint in Mexico. Having already established a robust client base in countries including Colombia, Peru, Bolivia, Guatemala, and Argentina, Celes intends to leverage its successful model to drive expansion and deeper market penetration in Mexico.
Recognition and Future Prospects
Forbes recently recognized Celes as one of the 30 business promises in Colombia, highlighting its AI-driven platform that refines inventory and replenishment processes to meet retail sector demands. This accolade underscores the company's potential to bridge the technological gap for Latin American businesses, enhancing their global competitiveness and long-term growth.
This recognition validates the company's significant role in regional technological advancement. By providing innovative solutions, it empowers businesses to optimize operations, reduce costs, and boost profitability, setting the stage for substantial growth and success in the global market.
Key Takeaways:
Celes offers a sophisticated AI-driven solution to optimize inventory management and demand planning.
The founding team brings over 45 years of combined experience in finance, operations, and tech.
Celes is supported by Femsa Ventures, MatterScale Ventures, Rockstart, Primeline Group, Wayra Hispam, Kuiper VC, NOA Capital, Storm Capital, and individual angel investors such as Santiago Gómez, Fabián Carrillo, Leonardo Borrero, and Felipe Santamaría.
The platform helps businesses maintain optimal inventory levels, reducing costs and enhancing decision-making.
VC Headlines:
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Axelerate Talent Network:
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