Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the FMCG industry. This time, you get to discover five hand-picked machine learning startups impacting the FMCG industry.
Out of 541, the Global Startup Heat Map highlights 5 Top Machine Learning Startups impacting the FMCG Industry
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 541 exemplary startups & scaleups we analyzed for this research. Further, it highlights five machine learning startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these five startups & scaleups in this report. For insights on the other 536 machine learning solutions for FMCG companies, get in touch with us.
Predactica enables Retail Inventory Optimization
Founding Year: 2016
Location: Plano, USA
Partner for Consumer Goods Demand Prediction
US-based startup Predactica builds a cloud-based and on-premise machine learning platform for use in the consumer packaged goods (CPG) industry. The startup’s no-code platform, ML Studio, allows users to input business data across operations and provides insights on demand and supply for their product portfolio. The startup’s time-series forecasting model precisely predicts demand for popular, new, and seasonal products, thus improving inventory and sales planning. Consequently, this enables CPG companies to optimize their retail inventory according to product performance while reducing revenue leakage and customer churn.
GenLots simplifies FMCG Purchase Planning
Founding Year: 2017
Location: Morges, Switzerland
Funding: USD 1,0 M
Collaborate with GenLots for FMCG Supply Chain Optimization
Swiss startup GenLots develops a software-as-a-service (SaaS) platform to provide actionable insights for procurement planning and supply chain management. The startup’s cloud-based platform integrates with the FMCG enterprise resource planning (ERP) systems and its proprietary ML algorithm automates raw material purchase. It features tools such as a safety stock optimizer, virtual simulator, and global inventory visualization. The platform plans purchases accounting for constraints such as the perishability of raw materials, required inventory levels, price variations, and storage capabilities of the production facility. This allows FMCG manufacturers to save costs, optimize raw material sourcing, and reduce disruptions to the supply chain.
Trendskout provides a Quality Management System
Founding Year: 2019
Location: Ghent, Belgium
Funding: USD 1,45 M
Use this solution to Reduce Product Defects
Trendskout is a Belgian startup that builds Trendskout AI, a solution that enables selective utilization of its proprietary ML models for product quality management. The startup’s platform equips FMCG businesses to assimilate inventory and supplier data and select ML algorithms to generate an AI model that improves the workflow. These ML models feature automated visual quality inspections, anomaly detection, and bottleneck predictions in the supply chain. Trendskout provides product quality assurance and cost overrun by eliminating the production of faulty products.
Foodspace facilitates CPG Product Discovery
Founding Year: 2017
Location: Boston, USA
Funding: USD 9 M
Reach out for Online Retail Product Mapping
US-based startup Foodspace provides digital product data mapping to position food CPG products across omnichannel retail platforms. The startup’s solution utilizes ML and computer vision to scan CPG product labels and extract shopper-centric product information. It then creates a product database that automatically populates product information across different eCommerce retailers in relevant categories. The solution thus reduces product information mismatch on the digital and in-store shelf, improves CPG product discovery, and drives sales. Foodspace aids product information management (PIM) vendors and CPG eCommerce data management teams to save time in modifying digital product label information as per each e-commerce retailers’ taxonomy.
RecommenderX offers Product Performance Analytics
Founding Year: 2016
Location: Dublin, Ireland
Work with RecommenderX for Promotion & Pricing Analytics
RecommenderX is an Irish startup that provides a SaaS platform that generates actionable insights on FMCG product category performance. The startup’s platform, Advise, consolidates CPG product category data from all offline and online retailers and analyzes it using AI and natural language processing (NLP). It predicts the product sales performance with reasonable insights, enabling category managers and CPG companies to make informed business decisions. Additionally, Advise optimizes revenue generation across different CPG product categories by providing recommendations on promotion strategies, pricing models, and new product development.
Discover more FMCG Startups
FMCG startups such as the examples highlighted in this report focus on FMCG inventory management, supply chain optimization, product quality management, and customer behavior analytics. While all of these technologies play a major role in advancing the FMCG sector, they only represent the tip of the iceberg. To explore FMCG technologies in more detail, simply let us look into your areas of interest. For a more general overview, download our free FMCG Innovation Report to save your time and improve strategic decision-making.