Adrich, a Female-founded Leader in Connected Commerce, Raises New Round of Financing to Scale Its Io
COVID accelerates demand for Its Real-time Consumer Product Usage Data among CPG, DTC and ecommerce companies
Adrich Inc., an IoT and AI powered analytics platform provider that helps many of the world’s leading brands and retailers gain and act on real-time consumer insights, today announced the closing of a seven-figure capital raise in an oversubscribed, new pre-series A equity funding. The round was led by IDEA Fund Partners, with additional participation by Sony Innovation Fund, Tech Council Ventures, M7, and Innovation Works. The Adrich Smart Platform™ allows CPG and DTC brands to easily digitize their packaging into a smart, connected product that can capture and transmit live-streaming of usage and consumer behavior data to facilitate in-the-moment engagement with their consumers.
The female-founded company, launched in 2018, has been met with wide international recognition while compiling several innovation awards. “This investment will help us further accelerate our growth and achieve our goal of transforming the consumer engagement model for brands and retailers,” said Adhithi Aji, Founder and CEO, “We are providing the capability for brands to gain the deepest level of behavior data, which allows them to service and engage consumers at previously unattainable levels to drive loyalty and unlock the power of subscription-based service through timely, need-based auto replenishment.”
With customers including Clorox, Colgate, and Tyson, the company has deployed its technology globally, with use cases in a wide-range of consumer-packaged goods, including household consumables, food, beverage, and pet food categories. Experiencing triple-digit year-over-year growth, COVID-19 has accelerated the demand for the platform. Over the last nine months, Adrich has launched in the U.S., Japan, Netherlands, Mexico, and Cambodia.
Chris Langford, Partner at IDEA Fund Partners noted, “In the past, brands and retailers lost sight on how, when and in what manner their products were used by consumers the moment they left the shelf. With Adrich’s connected commerce model, brands get real-time, actionable data on how their consumers are interacting with their product. The combination of Adrich’s technology and insights will power an increasingly deeper connection between brands and their consumers and unlock value through customized retail solutions such as automated replenishment and personalized product development.”