Nextail Labs, a Spain-based developer of inventory planning and merchandising software for retailers, has completed a $10m series A round backed by Sonae IM, retail and telecoms group Sonae’s venture capital arm.
The round also featured Keen Venture Partners and Nauta Capital, the latter having led Nextail’s $1.6m seed round in September 2016. The seed round included Realiza and increased the company’s total funding to $2m.
Founded in 2014, Nextail has created a cloud-based software platform that uses artificial intelligence to help retailers keep up with changing trends in order to merchandise and stock their shops more efficiently. It will put the cash towards product development.
Carlos Miragall, co-founder and chief financial officer of Nextail, said: “This round is a significant stepping stone for us. In addition to the extra backing from Nauta Capital, we are excited to have received funding from Keen and Sonae IM.
“Their belief in our technology and scale up potential will enable us to truly drive global expansion, as we support brands in new geographies, specifically the US and the UK.”