ePallet announces $3 million in funding
AI platform focused on acting as a marketplace for food and consumables in full pallet increments has raised $3 million in funding
ePallet says that the latest round of funding will allow them “to continue to aggressively hire and expand its team in addition to position the company for a Series A round of financing in 2019”.
ePallet, headquartered in Los Angeles, California, hopes that is platform will cut out the middlemen in the supply chain and gain customers by cutting out the typical mark-up associated with wholesaler buying. The company says its machine learning platform allows customers to access real-time, net-net delivered pricing in full-pallet increments directly from manufacturers. The platform also then handles freight, billing, and customer service.
"With the $3 million we've raised to date, ePallet is looking forward to increasing its reach in 2019, growing our team, and strengthening our mission of fixing the inefficiencies in the food supply chain to give everyone access to quality, affordable food products they deserve," said James Kwon, ePallet CEO.