Shypyard, a startup developing business planning products and services for brands and direct-to-consumer marketers, has raised $3 million in seed funding.
The round was led by Gradient Ventures, with participation from Liquid 2 Ventures, Position Ventures, and a group of angel investors, including current and former executives and founders of Shopify, BigCommerce, and SnapCommerce.
Dan Li founded the company with Samping Chuang in 2021 while working at LinkedIn. Her sister wanted to start her e-commerce business selling jewelry, but she didn’t know how. As Li attended his school of business, learned about the e-commerce market, and talked to others, he realized that his sister’s problems were shared.
Leveraging Chuang’s experience at a leading Japanese Shopify agency, they launched Shypyard to create a supply chain planning tool that includes inventory, supply, demand, and replenishment to grow the brand while ensuring constant stockouts, Reduced the amount of inventory that binds cash. Also, the difficulty of predicting and forecasting the inventory on hand.
“This kind of planning is difficult and unfamiliar work, but it has a huge impact on the health of the business,” Li told TechCrunch. “It’s like taxes.
Li explained that many of the similar supply chain intelligence and analytics companies, such as Anaplan, offer sophisticated tools for large enterprises, but are inaccessible to entrepreneurs and small businesses.
These smaller companies also don’t have dedicated teams to implement the tools. By targeting this niche of smaller traders with an easy and simple tool, Shypyard is “democratizing access to planning tools for entrepreneurs,” he added.
The company’s technology has been working with 12 pilot customers for eight months and has a small number of paying customers. The new funding will allow the company to hire additional employees, improve product development, increase customer acquisition, and expand its AI and decision-making capabilities.
“In the current macro environment we are in, entrepreneurs want to start something, but they are facing headwinds right now. , or help manage the stock price during the investment period, downtime, or help with their cash flow.”
Inventory infrastructure remains a big draw for venture capitalists. Last week, Ghost announced new funding for its market approach to managing excess inventory. They follow Syrup Tech, which recently raised $6.3 million for its predictive inventory recommendation platform, and join other similar companies such as Zippedi and Inventa.