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Sonata Software makes Strategic Investment in Retail10X

Posted On: 2019-03-23 15:26:26

Sonata Software today announced that it has made a strategic investment in Retail10x, a Palo Alto, California Headquartered Retail AI software-as-service platform company.

R10x is a Retail AI software-as-service platform for retailers, distributors and consumer packaged goods companies that helps them in:

- Improving Operational Effectiveness through advanced demand sensing, shrink reduction inventory optimization and merchandizing capabilities.

- Real-Time Supply chain Collaboration.

- Building Customer Loyalty by helping connect with their customers in a personalized, relevant and timely manner during their shopping experience.

The platform leverages advanced AI and ML capabilities to deliver actionable field-level recommendations. Retail10x team has deep industry experience having worked for some of the leading organizations like Apple, Walmart, Coke, Heineken, Moet Hennessy, SC Johnson and IRI.

Sonata software has been focused on being a Digital Transformation Partner of choice for customers in Retail, Distribution, Manufacturing, and Travel industries with their unique PlatformationTM methodology, end-to-end digital platforms. This investment is an extension of its endeavour of Digital transformation for the retail, distribution and CPG companies by providing them a real-time integrated data rich platform. As a result of the investment Sonata gets exclusive rights, worldwide, to implement and service the R10x platform and market the R10x platform under its own brands.

Commenting on the partnership, Srikar Reddy, MD & CEO, Sonata Software said, "Our strategic business partnership with Retail10x brings great value to the customers in our focused vertical of retail, distribution and CPG by providing them with a platform that leverages the latest in AI, ML and deep learning technologies in accelerating their digital transformation journey. This partnership would further strengthen our singular focus of becoming Digital transformation Partner of choice in these verticals."

Prasad K R - Founder and CEO of R10x commented, "Sonata's world-class expertise in digital retail and distribution supply chains will give R10x market leading capabilities in bringing a powerful Retail AI platform to retailers. Distributors and CPG's. We are excited to build this partnership as Sonata's worldwide footprint will help accelerate our growth in US and help R10x enter new markets helping customers realize their Digital transformation goals.

Shares of SONATA SOFTWARE LTD. was last trading in BSE at Rs.331.5 as compared to the previous close of Rs. 329.55. The total number of shares traded during the day was 5124 in over 249 trades.

The stock hit an intraday high of Rs. 340.9 and intraday low of 330.8. The net turnover during the day was Rs. 1708774.


Source: Equity Bulls

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