Inspectorio, Minneapolis, announced a $10 million Series A funding round, led by Techstars, Boulder, Colo., with participation from Ecolab, Saint Paul, Minn.; Target Corp., Minneapolis; and Matchstick Ventures, Twin Cities, Minn.
"We are committed to continue consolidating Inspectorio's position as the world’s leading platform for quality control and compliance monitoring, while generating a positive impact on the global supply chain,” says Carlos Moncayo Castillo, co-founder and CEO of Inspectorio. "This investment will accelerate the growth and development of our platform. We need to move from slow and isolated supply chains to smart supply networks able to bring quality and compliance to a different level.”
“I’ve known the Moncayo brothers for a few years now. They're the type of entrepreneurs I dream of working with,” says Mark Solon, managing partner at Techstars. “They lead by example, aren’t afraid to do the hard work themselves, are maniacally focused on their customer’s experience and are obsessed with solving a big problem – helping to bring 100% transparency and accountability to the retail industry’s supply chains. They embody the same give-first values we cherish at Techstars, and we're thrilled to be involved.”
The software-as-a-service (SaaS) company creates network dynamics and leverages machine learning to create autonomous systems for quality and compliance monitoring, so that factories, vendors, brands, and retailers can connect, share data and drive continuous improvement.