Sonata Software makes Strategic Investment in Retail10X, a Silicon Valley based Retail AI software-as-service Platform Company
Deepthi | Myequity news | Date : 23-03-2019 15:58:00 IST
Sonata Software has made a strategic investment in Retail10x, a Palo Alto, California Headquartered Retail AI software-as-service platform company. Sonata acquired 10% stake of Retail10X.
R10x is a Retail AI software-as-service platform for retailers, distributors and consumer packaged goods companies. The platform leverages advanced AI and ML capabilities to deliver actionable field-level recommendations. Retail10x team has deep industry experience having worked for some of the leading organizations like Apple, Walmart, Coke, Heineken, Moet Hennessy, SC Johnson and IRI.
Sonata software has been focused on being a Digital Transformation Partner of choice for customers in Retail, Distribution, Manufacturing, and Travel industries with their unique Platformation™ methodology, end-to-end digital platforms. This investment is an extension of its endeavour of Digital transformation for the retail, distribution and CPG companies by providing them a real-time integrated data rich platform. As a result of the investment Sonata gets exclusive rights, worldwide, to implement and service the R10x platform and market the R10x platform under its own brands.
Commenting on the partnership, Srikar Reddy, MD & CEO, Sonata Software said, “Our strategic business partnership with Retail10x brings great value to the customers in our focused vertical of retail, distribution and CPG by providing them with a platform that leverages the latest in AI, ML and deep learning technologies in accelerating their digital transformation journey. This partnership would further strengthen our singular focus of becoming Digital transformation Partner of choice in these verticals.”
Prasad K R - Founder and CEO of R10x commented, “Sonata’s world-class expertise in digital retail and distribution supply chains will give R10x market leading capabilities in bringing a powerful Retail AI platform to retailers. Distributors and CPG’s. We are excited to build this partnership as Sonata’s worldwide footprint will help accelerate our growth in US and help R10x enter new markets helping customers realize their Digital transformation goals.”