- French startup Ida secures $2.9 million to revolutionize grocery ordering and minimize waste.
- Ida's tablet app, powered by AI, optimizes reorder decisions, considering real-life scenarios for accuracy.
- Ida's algorithm, factoring in weather, seasonality, and prices, aims to reduce waste and enhance financial outcomes for supermarkets.
To revolutionize grocery ordering, French startup Ida has secured a $2.9 million seed round to enhance fresh product management in supermarkets. Traditionally relying on error-prone order sheets, grocers often face food waste and shortages.
Ida uses a tablet app connected to a sales forecasting algorithm to guide grocers in optimal reorder decisions. Focused initially on vegetables and fruits, Ida aims to expand its reach to other perishable goods.
The probabilistic inventory system considers real-life scenarios, offering a ballpark number of items in stock and minimizing manual counts.
Ida's forecasting algorithm factors in over a hundred parameters, including weather conditions, seasonality, prices, and competitor data.
This data-driven approach generates accurate demand forecasts, enabling grocers to configure safety stock and prevent stockouts without over-ordering.
While Ida's suggestions are estimated to be 70-75% accurate without manual changes, the startup is just getting started in transforming how supermarkets manage fresh products.
With environmental impact reduction and improved financial outcomes for supermarkets in focus, Ida represents a promising solution in the evolving landscape of AI-powered grocery management.
Edited by Shruti Thapa