Initialized Capital leads $3 mln round for Silo
Summary
By vetting and supporting both buyers and suppliers, Silo creates hundreds of data-driven connections across retailers, wholesalers, food service companies and processors and helps them efficiently transact and avoid billions of dollars of loss each year. Silo’s AI and machine learning technology adapts to existing workflows, seamlessly automating the entire supply chain from harvest management and QC, to forecasting and negotiation, through logistics and payment. With this new capital, Silo plans to hire engineering talent to develop new machine learning capabilities, along with product features and tools to support the marketplace and increase liquidity. Silo’s deployment of machine learning streamlines the process, requiring little to no change in their users’ workflow, and removes many barriers of their platform reaching critical mass,” said Matthew Nicoletti, commodity trader at The Penny Newman Grain Company. Silo’s AI and machine learning technology adapts to existing workflows, seamlessly automating the entire supply chain from harvest management, to forecasting and negotiation, through QC and logistics.