“The AI-powered insights platform has secured new funding from the venture capital firm to advance its product data technology for the retail and CPG sectors.”
Harmonya, an artificial intelligence-powered insights platform, has secured a new investment from W23 Global, a venture capital fund supported by five major grocery retailers including Ahold Delhaize, Tesco, and the Woolworths Group. The funding is intended to support Harmonya’s global expansion plans across Europe and the Asia-Pacific region.
This investment follows a recent one from dunnhumby Ventures and highlights a growing industry demand for technology that can help retailers and consumer packaged goods (CPG) companies manage and interpret complex product data to better understand shopper behaviour. Harmonya’s platform is currently used by six of the top ten global CPG brands and tracks over 20 million products, accounting for $500 billion in annual sales.
Ingrid Maes, chief executive of W23 Global, said that Harmonya’s platform “empowers retailers to overcome legacy data challenges and unlock new levels of personalization.”
For Harmonya, the backing from a venture capital firm with direct links to its target market is a significant step. “The addition of W23 Global to our investor group is a major milestone,” said Cem Kent, Harmonya’s chief executive. He added that the support reinforces the company’s vision “of empowering CPGs and retailers to move faster, make better decisions, and grow in today’s dynamic market.” The company aims to advance its AI-driven product data attribution and insights for its clients in the retail and CPG industries.
CRM/CDP Topics Covered in this Article: Product Announcements, Data Unification, First Party Data, Analytics, Customer Insights, Predictive, Hyper Personalization, Verticalization, E-Commerce and Retail.
Companies and Products Mentioned in this Article: Harmonya, W23 Global, dunnhumby Ventures, Ahold Delhaize, Tesco, Woolworths Group.
