“The vendor-managed inventory solution that is being developed by the Merkata team is an invaluable platform supporting the collaboration between merchants, suppliers and distributors,” said Alexey Garyunov, co-founder and Managing Partner of FinSight Ventures.
PALO ALTO, Calif. (PRWEB)
December 05, 2017
FinSight Ventures leads investment round in Merkata Smart POS, which focuses on small retail business solutions optimizing supply chain and in-store inventory processes.
Merkata was founded in 2015 in Ekaterinburg, Russia and initially focused on retail tech-enabled regulatory compliance for smaller merchants in the local market. For two years, the company successfully developed its offering into a complete solution and platform that can help merchants automate the entire workflow of their store and integrate with their suppliers. Merkata Smart POS automates several key processes for retailers, including procurement, sales tracking and monitoring, and regulatory compliance with recent regulation for the retail industry. Additionally, the company provides a tech platform for suppliers and merchants to manage and replenish inventory.
Microsoft awarded Merkata’s solution an “Application Developer of the Year” prize for its region in a recent worldwide partner conference. The company is part of the Skolkovo Innovation Center in Moscow, and earlier this year, it completed a financing round with Sverdlovsk Region Innovation Fund.
“The vendor-managed inventory solution that is being developed by the Merkata team is an invaluable platform supporting the collaboration between merchants, suppliers and distributors,” said Alexey Garyunov, co-founder and Managing Partner of FinSight Ventures. “It is becoming a standard that will transform traditional smaller retailers and increase financial and operational transparency for these local businesses. Merkata POS makes it possible to increase group buying power for small businesses and suppliers as well as build a virtual next-generation retail chain with more efficient processes, document-flow and supply chain. Capitalizing on this opportunity and strategy are key reasons for our interest in investing in this funding round.”
Alexander Prokhorov, co-founder and Managing Partner of FinSight Ventures, says, “We see attractive…