We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » LevaData announces $12 million venture funding for AI tools
Forward Thinking

LevaData announces $12 million venture funding for AI tools

June 19, 2018
Supply Chain Quarterly Staff
No Comments

Supply chain artificial intelligence provider LevaData said last week it will grow into new markets and expand its engineering and data science teams, after receiving $12 million in venture funding.

The money, which comes from the investment firm Tola Capital, follows a $5 million investment from the same company last year and brings Sunnyvale, Calif.-based LevaData's total venture funding to nearly $20 million.

LevaData says its flagship product, called Leva, is an artificial intelligence (AI)-based "advisor" that allows firms to reduce supply chain risk and cost by more closely managing their strategic sourcing and procurement processes. Along with the firm's cognitive sourcing platform, LevaData's software tools allow companies to gain rapid access to information, react more quickly to changes in the market, and become more agile organizations, LevaData CEO and Founder Rajesh Kalidindi said in an interview.

Some logistics firms have been hesitant in recent years to adopt data analytics tools, citing their insufficient databases or concerns about combining AI tools with human employees, Kalidindi said. But that has changed in the last six months, he said, as many logistics providers have embraced the trend of digitalization, which allows users to track and analyze nearly every supply chain operation and transaction with software and sensors.

"The power of data and analytics is how it can augment people's ability to drive value for their business," Kalidindi said. "You're kind of creating bionic capabilities, but there will always be the power of human intelligence for internal contacts, face to face conversations, and relationships."

Even if a company is concerned that its supply chain data may be messy or incomplete, users still have to use some portion of that data to make their decisions, he said. By adding structure to that data and enhancing it with external sources, AI tools can help users find insights, opportunities, and risks they couldn't have identified before, according to Kalidindi.

LevaData plans to use its new funding to expand the applications of its products to new markets, moving into areas like consumer packaged goods (CPG), telecommunications, and chemicals, in addition to its current applications in vertical sectors such as electronics, automotive and industrial equipment, and medical devices, he said. The company is also supporting its growth with new personnel, led by the hiring of Sreeni Iyer as chief technology officer (CTO), Kalidindi said.

  • Related Articles

    Project44 raises $420 million in new funding for supply chain visibility tools

    Covariant gains $80 million funding round for its AI-based order picking

    Locus Robotics collects $50 million in new funding for AMRs

Recent Articles by Supply Chain Quarterly Staff

Cargo volume down in Oakland

Safety experts to headline National Forklift Safety Day 2022 program on June 14

FedEx and Aurora expand autonomous trucking pilot

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Logistics pros warn of business impact from Russia-Ukraine war

  • Container prices continue to drop

  • How to resolve your inventory dilemma

  • Warehouse vacancy rates sink to 27-year low

  • Empty shipping containers stack up at U.S. port depots

Featured Video

Cccb7d13 710a 4473 8132 da8b6cc286f1

The Sportsman's Guide Case study: Increasing Accuracy & Productivity

Viewer Contributed
Thanks to the Lucas Warehouse Optimization Suite, The Sportsman's Guide has increased productivity, reduced training time, and experienced a boost in accuracy for both full-time staff and seasonal employees. Want to learn how Lucas can help your DC be more efficient, accurate, and safe while reducing labor costs?...

FEATURED WHITE PAPERS

  • Omnitracs One – Last Mile Solutions

  • The enterprise shipper's guide to building a smarter truckload RFP

  • Fixed vs. Flexible Automation: Which Option is Better for 3PLs?

  • Enhancing Relationships in Logistics through Data & Collaboration

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2022. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing