US inventory and order management software provider Cin7 has acquired Czech Inventoro, an AI-driven sales forecasting company. This acquisition was accompanied by the exit of Presto Ventures, as the fund shared with Vestbee.
- Cin7 was established in 2012 by David Leach. This company offers cloud-based inventory management software called Connected Inventory Performance, which gives increasing product companies an automated, real-time picture of the complete inventory lifecycle. Since its establishment, Cin7 has assisted product vendors in more than 100 countries, catering to more than 8,000 clients, and handling more than 125 million orders a year.
- Inventoro was founded in 2020 by Tomas Formanek. It aims to help small and medium-sized businesses handle their inventories with AI-driven sales forecasts. According to the company, its solutions can learn from specific business requirements and adjust to achieve previously unheard-of forecast accuracy.
"Inventoro's AI forecasting and optimization capabilities are a perfect complement to Cin7's robust inventory management solutions. Together, we'll provide customers with unprecedented inventory intelligence so they can maximize sales, minimize excess stock, and make informed decisions across their operations," said Ajoy Krishnamoorthy, Cin7’s CEO.
- This acquisition marks the first live exit from Presto Ventures’ second fund, Presto II, that was closed in 2022 at €30 million. Since then, the fund has already invested in more than 40 startups, including Georgian startup Wempler, Czech provider of instant market research Lakmoos among others. As for Inventoro, Presto Ventures was its first and only institutional investor.
"We've built Presto with the goal of supporting talented tech founders in the CEE region and helping them propel their smart solutions worldwide. We celebrate the sale of Inventoro as an important milestone in fulfilling this vision. It's yet another confirmation that Czech entrepreneurs have much to contribute to the global technology market," says Premysl Rubes, founder and managing partner of Presto Ventures.
