Ex-Tesla Team Raises $12.5M for Supply Chain Startup Atomic
· Technology · TechCrunch, Economic Times
Supply chain startup Atomic has secured $12.5 million in a Series A funding round led by growth equity firm Klass Capital and Seattle venture firm Madrona Venture Group, bringing its total funding to over $15 million. Founded by former Tesla employees Michael Rossiter and Neal Suidan, the Boston-based company developed out of a system initially built during the 2018 Model 3 production ramp to manage rapid planning changes. Atomic's platform uses AI simulations to determine inventory levels and automate purchasing decisions for major clients such as DoorDash and HelloFresh. According to Jon McNeill, former Tesla president and founder of DVx Ventures, Atomic's annual recurring revenue has quintupled since the beginning of the year. The company has also appointed former Tesla planning director Jeff Goodrich as its chief technology officer and third co-founder.
Why it matters
Retailers and food delivery platforms operating at scale can cut down on inventory waste and operational costs through autonomous supply chain management.
Read the original report — TechCrunch
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.