Bengaluru-based infotech firm Sonata Software said it has made a strategic investment in Silicon Valley-based software-as-a-service (SaaS) startup for offline retailers Retail10X, Inc.
Interestingly, Sonata Software has been focusing on digital transformation in the retail and distribution segment. This investment, according to the company's chief executive P Srikar Reddy, will help further its efforts in these segments in terms of offering a real-time data-rich integrated platform.
He further said that the investment will give exclusive rights, worldwide, to implement and serve the Retail10X platform and market it under its own brands.
Palo Alto-based Retail10X is a platform for offline retailers that offers artificial intelligence (AI) SaaS for sensing demand, optimising inventory and boosting merchandising capabilities. Customers of Retail10X include Apple, Walmart, Coca-Cola, Heineken, Moet Hennessy, and SC Johnson.
Retail10X claims that the AI built into the service can offer field-level recommendations and help in real-time supply-chain collaboration.
Retail10X, which was incorporated in 2014, was founded by Prasad KR, who also started another startup in the US called KaChing, which offers mobile payments systems at store checkout points.