Virtualstock, a digital supply chain startup from the UK, has announced a funding round of $6 million from Notion Capital.
Reading-based Virtualstock focuses on retail and health, developing technologies for automating and optimising supply chain operations and how to leverage machine learning to assess large data sets. Its main product is a supply chain management system called “The Edge” that connects retailers and suppliers.
Late last year, the company partnered with the UK’s National Health Service to help manage the organisation’s procurement processes.
The ever-changing landscape of digitalisation in commerce and poor existing ERP (enterprise resource planning) software was the impetus behind Notion’s investment, according to Stephen Chandler, managing partner.
Virtualstock was “largely bootstrapped” until this point but had received some investment from UK firm Legendary Investments and recently added UK retail chain John Lewis to its customer base.
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