Retail and manufacturing industries have problems with planning. The lack of efficient planning leads to lower profits. Customer needs, inaccurate forecasts, under or over-stocking, and expiration dates (for grocery retailers) are critical thresholds in the sector. Customers require different products under varying conditions. Different demand patterns and trends lead to incorrect forecasts. Inaccurate forecasts lead to too high or too low stocking levels. Perishable goods usually have a short "best by date," but predictive AI solutions here come to the industry’s rescue.
Our startup spotlight guest this week is Circly from Austria! Circly has developed the first AI toolkit that allows non-experts to create algorithms without programming knowledge. Users can predict upcoming sales, marketing impact, and HR planning. Co-founder Eric Weisz shared insights about their path.
Tell us about your team.
Four founders lead Circly’s team. They come from AI research, consulting, and retail. Together they are the perfect team of experts for all projects on AI in production and retail. Currently, the team is eight people strong in total, but the company is expanding month by month.
When and why did you found your startup?
AI technology can and will solve any efficiency issues. Knowing about the poor level of digitalization in the manufacturing and retail industries, the team thought about how to make the technology accessible to everyone. This idea was born in 2020 and implemented since the beginning of 2021.
What are your key and unique features?
Easy access to the technology. No-code basis for fast implementation. Accuracy due to Circly technology in the background.
Tell us about the numbers that matter to you.
Already more than ten customers! Improvement of analyses for our customers of more than 50% on average.
What are your plans for the next year and the next five years?
We want to expand our team and scale to the EU.
More about Circly
June 22, 2022