Onebeat, an Israeli startup that offers tech to help retailers analyze and understand their customers in real-time using AI and big data tools, raised $5 million in an initial round of funding led by Surround Ventures and AnD Ventures with participation from Renuar group, which has used Onebeat’s services since the company was established.
Retailers are most concerned with moving inventory. Being left with unwanted goods that need to be unloaded at a loss is a retailer’s worst nightmare. And you never want to waste space in your warehouse or on the shop floor that could be better used. This is where a startup like Onbeat comes into play.
Founded in 2018 by Dr. Yishai Ashlag and Avihai Shnabel, Onebeat is a software company that develops and implements advanced Retail solutions globally. Onebeat’s innovative and consumer-centric algorithms identify consumer patterns and market trends in real-time, helping retailers adjust their operations to changing realities in the market.
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Dr. EIi Goldratt, the Founder of Goldratt Consulting, introduced the world to the Theory of Constraints in his 1984 book, The Goal. Until his passing in 2011, Dr. Goldratt continued to develop, refine, and apply his methodology across a wide range of business arenas. As part of the Goldratt Group, Onebeat is at the forefront of the research and development of innovative methods and applications for retail and various other industries.
Onebeat co-founder Avihai Shnabel said, “We wish for every client to find exactly what they need in the store. The client will purchase the right product for his needs, not just the products on sale. In today’s world, consumerism leads to overproduction and excess inventory, which are left unused. With smarter management, we believe it will be possible to manufacture and showcase fewer products, and still meet customer needs, eventually leading to a reduction in prices for customers.”
With clients in Israel, Europe, the USA, APAC, and Latin America, Onebeat boasts that the company stands at the forefront of the Israeli Retail-Tech Industry.