Distributors grappling with excess inventory and inconsistent fill rates have a new, well-funded ally in Lantern. The startup, which applies cutting-edge machine learning to help distributors forecast demand with near-perfect accuracy, has closed a $7.0M Seed funding round.
The capital infusion, led by Primary Venture Partners, will support Lantern's work in reducing inventory by 30-40% and improving fill rates by 5-10%. Founded by individuals with deep roots in both Silicon Valley technology and the distribution industry, Lantern aims to free up cash for growth within a sector it calls the "backbone of our economy."
