Lytica, an Ottawa, ON, Canada-based provider of an electronic component spend analytics and risk intelligence platform, raised $13M in Series A funding.
The round was led by Resolve Growth Partners, with participation from York IE.
The company intends to use the funds to accelerate product and platform innovation, continue growing its team of specialists, and foster industry partnerships.
Led by CEO Martin Sendyk, Lytica is an electronic component spend analytics and risk intelligence company that uses real customer data to help organizations make their supply chain more cost transparent, resilient, and predictable. Its advanced electronic component market intelligence platform employs machine learning and AI to analyze real-world pricing data, offering true market insights to reduce costs and mitigate supply chain risk. The company’s models use real pricing data, providing accurate and timely insights tailored to each client’s unique situation. Fortune 500 and blue chip companies around the world use it.
Lytica Raises Over $13M in Series A Funding. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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