a16z and Monashees lead new round in inventory discovery startup Inventa – TechCrunch

0

Inventa, a Brazil-based company that offers a digital marketplace for small and medium-sized businesses to discover and buy new inventory, raised $20m in Series A funding.

Andreessen Horowitz and Monashees co-led the round and were joined by Founders Fund, Greenoaks, Greylock, Tiger Global and angel investors Hans Tung and Carlos Gracia of Kavak. Existing investors Pear VC, NXTP, ONEVC, MAYA Capital and Alter Global also participated in the round.

This new capital injection comes three months after the company announced $5.5 million in seed funding. And all this for a company that started in March 2021.

CEO Marcos Salama founded the company with former General Atlantic investor Laura Camargo and former McKinsey data scientist Fernando Carrasco to provide technology, data and credit to Brazilian entrepreneurs.

Salama, who is from Spain, has a background in mechanical engineering and has worked for McKinsey and Rappi, which is how he came to Brazil. While running Rappi’s grocery business, he worked with retailers and saw how small stores struggled to access an assortment of produce and credit.

Inventa uses technology to facilitate the buying process for small businesses. Inventa’s online platform recommends products based on actual transaction data and provides credit, in 30, 60 and 90 day increments, to retailers. There’s also a vendor side, where they can upload products, manage pricing, and see what’s selling and what’s not.

One of the drivers for finding additional funding so soon is that Inventa is growing more than 100% month over month.

“There are 5 million entrepreneurs who have small stores in Brazil targeted by Inventa,” Salama said. “Our B2B marketplace connects brands and small retailers to help them with an assortment in cosmetics, healthy food and home decor. They can also see trends, which makes recommendations more useful.”

The company offers more than 7,000 products from 400 brands and has more than 20,000 customers.

The new funding will allow Inventa to invest in its technology team – much of its 100 people work in engineering – and strengthen its sales and marketing teams. Salama expects massive growth in the employee area with the goal of adding 400 more people over the next few years.

It also plans to grow its brands to 10,000 as Inventa deepens its business in cosmetics, healthy foods and home decor. In addition, the company will focus on its technological development in order to eventually be able to offer a free software product to small suppliers and retailers.

“Amazon, MercadoLibre and Rappi cater to the business-to-consumer world, but in B2B there are far fewer companies targeting that market,” Salama said. “It’s big, but there are no solutions, so we are ready to serve them.”

Share.

Comments are closed.