Funds for Promotion and Pricing Optimizer Kuona

Monterrey, Mexico-based promotion and pricing optimization specialist Kuona has raised $6m in seed funding, which it will use to expand its presence in key locations including Latin America, Europe and the US.

The firm, launched in 2017, helps CPG firms and retailers using neural networks, integrating with their systems to capture real-time data and simulating scenarios. It has two current products: Kuona Price and Promotion Optimization automatically analyses the real performance of current and past promotional activities and helps to optimize those coming up; Kuona Perfect Order fine tunes the order process to increase sales, and diminish merchandise returns and out-of-stock incidents at the point of sale.

The funding round was led by Cometa, with participation from Seaya Cathay Latam and FEMSA Ventures. The company operates in the United States, Mexico, Brazil, Peru and Ecuador; and was a participant in the start-up incubator Y Combinator Fellowship program.

Founded by data scientists Agustín Magaña and current CEO Chema Sanroman, the company has doubled its revenues for each of the past two years, and says it is now profitable.

Web site: https://kuona.ai .