PlatformE acquires Cambridge-based Catalyst AI to drive sustainable fashion
Fashion technology company PlatformE has acquired artificial intelligence firm Catalyst AI, for an undisclosed sum.
The deal will see Catalyst AI’s machine-learning tools for optimising fashion supply chains “bolster PlatformE’s services for efficient on-demand and made-to-order fashion”.
PlatformE co-founder and CEO, Gonçalo Cruz, said: “We’re delighted to strengthen our capabilities with Catalyst AI’s innovative intellectual property, and will benefit immensely from the team’s expertise and their network of talent in one of the world’s leading data science ecosystems.”
Following the integration process, the Catalyst AI founders will continue to support the growth of PlatformE’s data science capabilities as advisors on AI.
PlatformE allows brands to move away from wasteful systems of mass production. Instead, items are produced according to demand, with shorter supply chain times from manufacture to delivery.
Its offer now covers three categories: 3D digital product creation for consumer-facing retail experiences; a software platform streamlining e-fashion across the value chain from the product configuration to ordering, production, and logistics; and a global network of digital-savvy factories that are able to produce fashion products on-demand and in record time.
Since its launch in 2015, it has worked with major brands including Dior, Gucci, Puma, Farfetch and The North Face and its new acquisition should help it as it widens its brands’ reach.
Catalyst AI co-founder and CEO, Raymond Siems, added: “We started Catalyst AI with the mission to bring the latest in AI and data science to industry. Nothing matched the scale of inefficiencies we discovered in fashion supply chains, so we set about building tools to tackle these problems, which brought us into contact with the PlatformE team.”
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