Roambee Acquires AI Firm Arnekt to Accelerate AI-Powered Supply Chain Visibility

News provided by

May 04, 2021, 08:52 ET

SANTA CLARA, Calif., May 4, 2021 /PRNewswire/ -- Silicon Valley-based Roambee has acquired Arnekt, a cloud analytics services firm with expertise in data science, natural language processing (NLP), and artificial intelligence (AI). The acquisition bolsters Roambee's capabilities to deliver better business outcomes using Honeycomb – its immersive, location-aware platform. Arnekt's artificial intelligence and machine learning infused frameworks is proven and already implemented by Fortune Global 500 customers including Honda, Epson, and HPE.

Roambee CEO Sanjay Sharma Speaks on Arnekt Acquisition to Drive AI-Powered Supply Chain Visibility

A McKinsey paper states that in some settings, AI-based approaches are expected to reduce product unavailability by up to 65 percent, transportation and warehousing and supply chain administration by 5 to 10 percent and 25 to 40 percent respectively, and overall inventory reductions of 20 to 50 percent.

This return on investment (ROI) is amplified when the capabilities of AI are applied on reliable visibility data gathered throughout the supply chain using sensors than just aggregating EDIs or carrier data.

Roambee offers real-time, end-to-end supply chain visibility combining firsthand sensor data and non-sensor intelligence to enable enterprises to deliver shipments and assets on time, in full, and in top condition anywhere in the world. Roambee recent completed its Series B1 funding totaling in excess of $18M led by Temasek & Kuehne + Nagel backed Reefknot Investments. It also monitors the vaccine cold chain across multiple modes of transport for one of the largest US-headquartered, global COVID-19 vaccine makers.

Speaking on the acquisition, Sanjay Sharma, CEO of Roambee, said, "Over the past year, we have seen acceleration in the adoption of real-time shipment visibility solutions and customers are looking to leverage visibility to automate logistics. Arnekt has built a value creation analytics framework that can ingest disparate data at scale, process it with lowest latency, and predict the next action. This acquisition enables us to scale and grow our our offerings such as the Swarm AI network analytics platform to help customers optimize their supply chain operations."

Founded in 2012, Arnekt offers an end-to-end solution for modeling structured and unstructured data using computer vision, NLP, AI, and ML. The company has developed and deployed cognitive artificial intelligence products for diverse customers in Japan, India and UK.

"Over the years, Arnekt has delivered industry solutions for finance, automotive, pharmaceutical, and logistics industries. Our unique combination of cloud native and product engineering experience is why clients seek out Arnekt to help them solve complex problems by unlocking the power of AI," said Arnekt Founder and CEO, Mandar Kale.

"Arnekt is excited to join Roambee to deliver greater value for the customers with our proven analytics frameworks and pre-trained machine learning models. Together, our goal is to enhance the value derived from real-time visibility to drive logistics automation."

About Roambee
Headquartered in Silicon Valley, USA, Roambee puts enterprises in control of goods and assets — indoors, outdoors, and in-transit — with sensor data monitoring, analytics, alerts, and automated response. Roambee's services are on-demand and CAPEX-free; you only pay for what you monitor.

More than 300 global enterprises have chosen Roambee to improve product velocity, compress order-to-cash cycles, and forecast demand accurately. It is continuously investing in AI and data analytics to make trusted business recommendations.

Its immersive, location-aware intelligence platform is powered by purpose-built multi-sensor IoT hardware and global connectivity options to monitor at scale. At the same time, Robotic Process Automation (RPA) automates processes for transparent business operations. Roambee has regional offices in Mexico, Brazil, UK, Germany, UAE, India, Singapore, Malaysia, and Indonesia to service its worldwide customer and partner base.

Media Contact:
Premsai Sainathan
Sr. Director, Global Marketing
Roambee
Phone: +1 (408) 461-5221
Email: [email protected]

SOURCE Roambee