Merqato, an Amsterdam-based company specializing in AI-driven operational planning, has recently secured investment from Smarter Ventures. The funding reflects growing interest in technology that improves efficiency in the fresh produce sector. Merqato’s platform is designed to optimize the value chain of fruits and vegetables, aiming to reduce waste and increase profitability through predictive algorithms. As the global demand for sustainable practices rises, Merqato’s approach aligns with industry trends focused on minimizing waste and enhancing predictive accuracy.
Merqato previously received a €350K convertible loan from Innovatiefonds Noord-Holland in October 2023, highlighting consistent support from financial entities. Earlier efforts revealed the platform’s potential in improving operational forecasts by integrating with existing IT infrastructures. The new funding complements these past endeavors, allowing Merqato to further develop its capabilities in the European market.
How does Merqato’s platform optimize supply and demand?
Merqato’s platform employs AI-powered forecasts to align supply with market demand, reducing waste by around 10%. By combining internal operational data with external information like weather patterns and market trends, the platform generates precise volume and price predictions. These insights help companies manage fluctuations caused by factors such as adverse weather or supply chain disruptions.
Integrating this multifaceted data allows Merqato to pinpoint critical variables that influence business outcomes. For instance, the platform can predict sales variations due to temperature changes or sunlight exposure on crops. This comprehensive approach provides companies with actionable insights to optimize their decisions.
What will the new funding be used for?
The recent capital injection will enable Merqato to continue innovating its platform, targeting cost reduction and decreased food waste within the European fresh produce market. The company collaborates with partners across several countries, including the Netherlands, Germany, Spain, and Italy. This collaboration with Smarter Ventures is seen as pivotal for Merqato’s growth and development.
Emphasizing data privacy, Merqato ensures that client data is utilized only for generating useful insights. This commitment to privacy allows the company to maintain trust while offering valuable predictions on production and sales patterns.
Merqato’s efforts are part of a broader trend where technology is being leveraged to enhance agricultural supply chains. By combining data analytics with traditional farming practices, the industry is moving towards more sustainable and efficient methods. Companies like Merqato are playing a crucial role in this transformation.
Merqato’s focus on AI-driven solutions for the fresh produce industry is timely and pertinent, addressing critical issues such as waste reduction and operational efficiency. As the company expands its reach and capabilities, it continues to align with the increasing demand for sustainable agricultural practices. The platform’s adaptability and integration capabilities make it a valuable tool for businesses looking to optimize their supply chain operations in a rapidly evolving marketplace. Leveraging AI technology, companies can gain a competitive edge by anticipating market changes and responding effectively. This proactive approach not only reduces waste but also enhances profitability and sustainability in the food sector.
