Colombian AI Startup Celes Lands $3 Million USD in Seed Investment Round

Celes, a Colombian AI platform for retailers, has closed on an investment round of $3 million USD led by Mexican company FEMSA Ventures. The Barranquilla-based firm says it will use the financing round, which brings its overall valuation to $12 million USD, to improve its product and expand in Latin America with a focus on Mexico.

The round included investments from MatterScale Ventures, Rockstart, Primeline Group, Wayra Hispam, Kuiper VC, NOA Capital, Storm Capital, Santiago Gómez from Simetrik and Fabián Carrillo from Cluvi.

According to Celes, which has it currently has clients in Colombia, Peru, Bolivia, Guatemala, Argentina, Ireland, and “is opening markets in Mexico.”

“The trust placed in us by FEMSA Ventures marks a pivotal moment in our journey towards the digitalization of the Latin American retail sector,” said Luis Ricardo Almanza, CEO of Celes, in a statement. “This investment not only validates our approach and solutions but also accelerates our mission to close the technology gap in the region, allowing us to offer our customers an unmatched competitive advantage.”

Celes frames its key value proposition around using artificial intelligence and data analysis with predictive models to “optimize inventories and replenishment in retail stores,” a dynamic that “translates into more efficient management, improved customer loyalty, and a more competitive pricing strategy.” For Latin American firms, the company says it can help them ramp up digitalization and “close the technological gap with global competitors.”

“Celes stands out as a promising solution to the inefficiencies faced by the supply chain of retailers and consumer goods companies,” added the company. “Its platform offers solutions to optimize inventory management and replenishment processes, addressing key needs in the retail industry. With a committed founding team that displays ambition, passion and discipline, Celes aligns well with FEMSA Ventures’ goals.”