REM People raises $12 million through a partnership with USA-based project finance and investment company Ethos Asset Management.
REM People will use these funds to expand their international network to 24 offices and to reward employees with bonuses, with the eventual goal of sharing 10% of company shares with their employees by implementing an employee stock option program (ESOP).
“We intend to accelerate the scaling of our AI-based technology by investing these funds in AI-focused research and development activities, in our international expansion, in launching new products, as well as helping to establish a marketplace that provides one-stop retail analytics services for global consumer packaged goods companies and retailers. I’m also delighted that this investment is only the first leg of a long-term global partnership and expect to announce further investment rounds in the coming months,” Bulent Peker, REM People Co-Founder and CEO, stated.
The startup was founded in 2015 and provides AI-based technology and business intelligence tools to create actionable insights for all user levels. The startup also helps clients track their product journey by monitoring retail merchandising operations and execution performance offline, online, and via printed channels.
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