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. Their 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. Sonae IM will play a decisive role in supporting InovRetail to become a global data analytics reference for retailers.
Marco Soares, InovRetail co-founder, is convinced that they found the best partner:
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.
InovRetail’s ambitious plan for global expansion will be sustained by a highly experienced retail tech team, specialized in data and predictive analytics.
“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.” says André Sousa, InovRetail co-founder.
Eduardo Piedade, Sonae IM executive board member, believes in the underlying potential of InovRetail in becoming a global player:
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.
The recent activities of Sonae IM are positioning them as an active player in the ecosystem. They have been supporting events, launched Bright Pixel (Company Startup Studio) and now this investment. What’s next?