Vedalabs, which is an AI startup that helps the retail stores revealed that it has now secured an undisclosed amount of funding in the round of Series A from end to end retail store solutions provider Satin neo Dimension, to expand into the retail analytics.
With this new development, serial investor and Founder of Satin new Dimensions Satvinder Singh will now be going to join as the Board of Director for the startup. And Gurugram based Vedelabs plans to use the funds to expand its product capabilities into the intelligent store fit-outs as well as scale the current products to store the level analytics.
This investment will help us scale our team and current sales pipeline in order to establish market dominance. With Satin’s strong background in retail vertical, we aim to use their knowledge and existing relationships with brands, to scale our product and sales.Veer Co founder Vedalabs
Previously, the startup had expanded its presence in the US with the investment from the Alchemist Accelerator as well.
The startup which is founded in 2018, by the Saurabh, Vivek Singh, and Veer Mishra offers an AI platform that helps the retailers to move more inventory and make informed decisions by the real-time store-level insights.
In a couple of months, we will be rolling out a public version of the app, allowing users to automatically connect the Vedalabs platform to their CCTV cameras and perform basic level analytics.Veer Mishra on the future plans
By the end of this year, the startup is also looking to deploy its solutions across the 300 locations across the globe.