NEW YORK, Dec. 1, 2023 /PRNewswire/ -- Syrup, which provides AI-powered planning, buying, and inventory optimization for omnichannel commerce, announced today its Series A fundraise. The $17.5M round is led by Accel Partners with participation from existing investors Gradient Ventures and 1984 Ventures.Increased accuracy in forecasting takes the guesswork out of merchandise planning, helping reduce overproduction. The Syrup solution connects inventory data with a unique mix of historical, transactional, and real-time data so that planning teams can make optimal decisions with confidence.According to Faherty Brand CEO, "Syrup's forecast accuracy enables us to achieve our sustainability goals." Post this"Our goal is to help brands sell more and waste less, every day," notes James Theuerkauf, CEO and Co-founder of Syrup Tech. "Advancements in AI allow us to deliver inventory forecasts at the item x size x color level — much more granular than what current practices allow for."The cost of stockouts and wasted inventory is a $250B problem in the apparel and footwear space alone. Early results include a 46% increase in forecast accuracy compared to a major incumbent provider

Syrup Tech Inc., a startup that makes artificial intelligence tools to help fashion retailers plan and manage their inventory, has raised $17.5 million in a funding round led by Accel.

Founded by Michael E. Murphy and Andrew Copp in 2021, Prelude has now raised a total of $10.4M in reported equity funding.