AI-based inventory management software that “maximizes margins and minimizes losses”

"Increasing sales and reducing food waste" is the purpose of IDA's artificial intelligence-based software. Developed by Mateo Beacco, Mathieu Grosso, and Alex Chataigner, this solution aims to "optimize the management of fresh produce in both convenience stores and supermarkets." Launched in February 2023, IDA has already won over several chains thanks to its positive results. The start-up has recently raised 2.7 million euros [3 million USD] to accelerate its development.

Alex Chataigner, Mateo Beacco and Mathieu Grosso

"Maximize margins and minimize losses of the fruit and vegetable departments"
"30% less waste, 5% more sales," according to Mateo Beacco, one of the co-founders of IDA. "Managers of fruit and vegetable departments usually use a cadence system to place their orders and can enter up to 400 lines per day, the equivalent of almost 500 to 700 hours per year." According to Mateo, the market management software that is currently used was developed for dry produce and is therefore not adapted to fresh produce such as fruit and vegetables. As a result, if a department manager orders too much, he loses up to 10% of his turnover. On the contrary, if he orders too little, he can lose up to 15% every year due to shortages in stock."

With the IDA software, this entire ordering process is optimized thanks to algorithms that suggest orders according to (more than 100) parameters such as weather, product shelf-life, seasonality, sales history, and even catchment area. This "new approach takes into account parameters inherent to fruit and vegetables by proposing a mathematical optimization according to margin, packaging, and price elasticity. It, therefore, helps maximize margins and minimize losses." Another advantage offered by the developers is the ability to consolidate orders into a single order via a tablet linked directly to central purchasing offices and suppliers.

The IDA software has already won over Système U, Naturalia, Provencia, Biocoop, Les Comptoirs de la Bio, Carrefour (Guillaume Halley - franchise), as well as a Swiss supermarket chain.

2.7 million euros [3 million USD] for growth in France
The software is currently designed for fruit and vegetables, but the start-up plans to specialize in all fresh produce, including cheese, butchery, and seafood references, in order to integrate other sectors, such as central purchasing agencies and wholesalers, and extend its presence in France. To achieve this goal, the company has just raised 2.7 million euros [3 million USD] from Frst, Daphni, Motier Ventures, and Kima Ventures.