Sonata Software Invests in Retail AI SaaS company Retail10X
Sonata Software has made an undisclosed strategic investment in Retail10x, a Palo Alto, California Headquartered Retail AI software-as-service (SaaS) platform company. R10x is a Retail AI software-as-service platform for retailers, distributors and consumer packaged goods companies that helps them in merchandising, sourcing and customer engagement.
As a result of the investment Sonata gets exclusive rights, worldwide, to implement and service the R10x platform and market the R10x platform under its own brands.
“Our strategic business partnership with Retail10x brings great value to the customers in our focused vertical of retail, distribution and CPG by providing them with a platform that leverages the latest in AI, ML and deep learning technologies in accelerating their digital transformation journey. This partnership would further strengthen our singular focus of becoming Digital Transformation Partner of choice in these verticals,” said Srikar Reddy, MD & CEO, Sonata Software.
“Sonata’s world-class expertise in digital retail and distribution supply chains will give R10x market leading capabilities in bringing a powerful Retail AI platform to retailers, distributors and CPGs. We are excited to build this partnership as Sonata’s worldwide footprint will help accelerate our growth in US and help R10x enter new markets helping customers realize their Digital transformation goals,” said Prasad K R — Founder and CEO of R10x.
“Eco-system will become the new warehouse. Eco-system will be the new supply chain. Network effect will be the new driver for scale. Data is the new dollar. The business of change management and human resource management will itself undergo a transformation in the digital world : It will be community management rather than people management. Behaviour design will be the new loyalty program in the digital world,” said Omprakash Subbarao, Senior VP, Sonata Software Pvt. Ltd. He was speaking at the CII Karnataka Annual CTO Conference.
“The platform leverages advanced AI and ML capabilities to deliver actionable field-level recommendations. Retail10x team has deep industry experience having worked for some of the leading organisations like Apple, Walmart, Coke, Heineken, Moet Hennessy, SC Johnson and IRI,” read a communiqué from the company.
Sonata software targets customers in Retail, Distribution, Manufacturing, and Travel industries with its “Platformation” methodology.
