Yesterday’s Planning Systems Can’t Cope With Today’s Supply Chain Volatility; Noodle.ai’s Tech Changed the Game
SAN FRANCISCO, September 29, 2022 /PRNewswire/ — Noodle.aicreator of the leading supply chain intelligence system, today announced that it has closed a $25M Series C funding round, including participation from the venture arm of ServiceNow (NYSE: NOW) and Honeywell Ventures. The investments provide further validation of Noodle.ai’s innovative AI-driven platform, Inventory Flow, a supply chain intelligence system that enables companies to profitably navigate some of the most complex challenges in supply chain in the world.
Noodle.ai’s Inventory Flow implements pioneering data science technology, including deep probabilistic predictions, graphical neural networks and reinforcement learning. By adding a system of intelligence to companies’ existing systems of record and planning systems, Inventory Flow can find and solve a huge number of undiagnosed problems in the supply chain — ultimately increasing profits in by enabling the right goods to flow to the right place at the Right time.
“The past few years have seen a shift from a ‘normal’ world, where supply chain planners can make reasonable assumptions that have generated adequate projections, to the ‘post-normal’ world of unprecedented disruption in the supply chain today,” said. Stephen Prattfounder and CEO of Noodle.ai, whose full comments can be found at Noodle.ai blog. “Noodle.ai combines human expertise with AI to ‘crap science’ in supply chain predictions and corrections so companies can achieve profit-driven outcomes. We’re thrilled our funding partners are sharing the our vision and are confident in our ability to deliver real solutions to a major global problem.”
The latest round brings Noodle.ai’s total funding to more than $100M, including previous rounds from TPG Growth, Dell Technologies Capital, Mitsubishi and SMS group. In a crowded investment landscape, recent funding is notable, reinforcing the urgent need for innovation in global supply chains. Noodle.ai will use the funds to accelerate product innovation and technology integration to support a growing customer base of companies in a wide range of industries that rely heavily on global supply chains, including consumer packaged goods goods (CPG), food and beverage, beauty and cosmetics, metal, automotive, paper and pulp, and more.
ServiceNow’s investment in Noodle.ai will help drive further investment and expand Noodle.ai’s supply chain intelligence system to set a new standard for connected supply chain operations.
“Helping customers create enterprise-wide workflows is the primary purpose of ServiceNow,” said Philip Kirk, Senior Vice President of Corporate Business Development at ServiceNow. “Our investment in Noodle.ai complements our focus on breaking down silos and leveraging AI-based decision intelligence. We will continue to seek and invest in innovations that enable businesses to make the world a better place for everyone.”
Honeywell Ventures is Honeywell’s venture arm that invests in early-stage, high-growth companies with emerging and disruptive technologies. The strategic investment in Noodle.ai will enable Honeywell – with its technology – to deliver more advanced data and intelligence, to help its customers accelerate business decision-making and digital transformation to help organizations to streamline operations and lower costs.
“As a world leader in controls and automation, Honeywell helps our customers solve key operational and supply chain challenges through industrial-grade software and our Honeywell Forge enterprise performance management solution,” said Patrick Hogan, managing director of Honeywell Ventures. “Our investment in Noodle.ai will accelerate digital transformation in supply chains by bringing enhanced data intelligence to address key challenges such as improving demand and supply planning. We believe organizations will benefit with these new capabilities to deliver products and services faster to customers.”
About Noodle.ai
Noodle.ai has a clear mission: create a world without waste. In today’s unprecedented supply chain crisis, where “normal” conditions no longer exist, companies’ record systems and planning systems alone cannot keep up. Noodle.ai responded by creating a supply chain intelligence system, optimized to enable companies to navigate the highly dynamic “post-normal” environment. Based on Noodle.ai’s advanced Enterprise AI capabilities, the production-proven Inventory Flow platform ensures that the right items flow to the right place at the right time. Visit www.noodle.ai to learn more.
See original content:https://www.prnewswire.com/news-releases/servicenow-honeywell-back-noodleai-with-25m-series-c-to-end-global-supply-chain-crisis-301636720. html
SOURCE Noodle.ai
