Nextail, has just announced the closing of a $1.6M funding round, led by Nauta Capital. Existing investor, Realiza, also participated in the round. The investment brings Nextail’s total funding to $2M and will help the startup accelerate product development as well as expand its sales and marketing efforts.

The startup, co-founded by Joaquín Villalba and Carlos Miragall in 2014, has developed a cutting edge Software-as-a-Service solution that brings artificial intelligence to physical retail inventory management. Nextail optimizes daily allocation and replenishment decisions with an agile retail approach that typically reduces by 30% the amount of inventory needed to sustain the same full-price sales levels.

This financing comes after an exceptional year in which Nextail has signed as clients some leading retailers like Kiko Milano (Italy, 800 stores), Melon Fashion Group (Russia, 600 stores) or Amichi (Spain, 200 stores). “Retail loses more than $100 billion every year due to markdowns and unsold products. This round will help us further execute on our vision of bringing together the knowledge from the sales floor and the power of technology to benefit both the end consumer and the retailer.” declares Joaquín Villalba, cofounder and CEO of Nextail. “With this funding we will double our staff, reaching more retailers and helping them benefit from our smart data technologies so they can start selling more with less stock”, said Carlos Miragall, Nextail’s COO.

Jordi Viñas, General Partner at Nauta Capital, led the transaction: “I was impressed by the deep fashion industry and operations expertise of the team. They are on a mission to apply the latest technology so the retail industry can be more efficient in today’s fast paced environment, which corresponds with one of our investment theses”, commented Mr. Viñas.