Bpifrance helps supply $14.5m to Vekia

Bpifrance has co-led a $14.5m series B round for Vekia to help the supply chain technology producer expand into the UK, the US and China.

Vekia, a France-based supply chain technology developer, raised €12m in a series B round on Thursday co-led by Bpifrance, the public investment bank of France, and VC firm Serena Capital.

The round was also supported by Pléiade Venture, CapHorn Invest and Zenium Technology Partners. Pléiade and CapHorn previously injected €2.4m in series A capital in 2015.

Founded in 2008, Vekia uses machine learning technology to predict demand and enable companies and stores to more efficiently manage their supply chain. The platform takes into account factors such as historical transactions, planned promotions and seasonality.

The funding will go towards an accelerated international expansion in the UK, where it opened in office in April 2016, the US, where it hopes to open a presence in early 2018, and China, later next year. Vekia is already active in France, Italy and Poland.

The company will also further develop its platform and hire more staff, doubling its headcount from a current 60 people.

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