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- Premoney 68: Otis AI & Moselle
Premoney 68: Otis AI & Moselle
Automated digital advertising & AI powered inventory management
Welcome back! Excited to feature two slightly later stage (for me) companies that survived the worst of the market turndown, and are coming out of it strong and with serious momentum.
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This weeks companies:
Company: Moselle
Founder: Lakhveer Singh Jajj
Raise Details: Raising $2M USD, 40% committed
Current investors Include:
Vertical: Artificial Intelligence, E-commerce, SaaS
Business Model: SaaS, Subscription, B2B
1-Liner: Inventory on Autopilot - AI powered inventory allocation and replenishment solution.
Description: Inventory is the biggest cost and the most time-consuming operation that a merchant has to contend with. After speaking with over 350 brands, we know that they dread the process of planning, tracking, and allocating inventory, with most solutions geared towards large enterprises.
Moselle is an AI-powered planning and automation solution that gives every merchant the ability to streamline and automate their inventory replenishment and allocation. In a nutshell, we help merchants figure out how much product to order, when, and place it with their suppliers.
Traction Indicators: We are on track to 5x our revenue before the end of the year and aiming for another 5x in 2024.
Company: Otis AI
Founder: Miguel Guerrero
Raise Details: Raising $7M, 50% committed
Existing investors include:
Studio VC
Gaingels
New York Ventures
Larry Augustin
Google Founders Fund
Current indications suggest an interest exceeding $10M for this round.
Vertical: Ad Tech, Artificial Intelligence, SaaS
Business Model: B2B, SaaS, Subscription
1-Liner: Otis AI (meetotis.com) is the automated digital marketing solution for startups and businesses to manage and effectively run high-performing cross-channel advertising, saving you 80% of the time and improving performance by 2-3x at a fraction of the cost of a traditional performance marketing agency.
Description: We’re on a mission to level the playing field for SMBs and Startups in digital advertising. Our AI-driven platform streamlines and manages digital marketing across all platforms, leveraging first party data for targeting and attribution.
Traction Indicators: Key Highlights:
$1.1M Net ARR
20% month-over-month growth rate
Recently announced a new partnership agreements with Slice and Toast to help them scale their paid advertising initiatives with their thousands of small business merchants.
Received Startup of the Year 2023 award by Startup Grind.
Recognition by the Small Business Administration as part of their recommended toolkit for US Small Businesses. Read more: https://meetotis.com/blog
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That’s all for this week! Thank you everyone, and please share, send feedback and introductions, or reach out to collaborate.
Jake