VC firm Omnivore Picks minority stake Retigence Technologies

MUMBAI: Omnivore Partners, a venture capital firm focused on tech companies in food and agriculture space, is picking up a significant minority stake in Retigence Technologies. The Bengaluru-based startup has developed software to solve the overstocking and stockout situations in the retail industry, which it pegs as an $800 billion problem.

The investment amount, which remained undisclosed, will be used by the startup for R&D, launching new products and targeting clients globally.

Retigence has developed an algorithm to deliver big data solutions for inventory management called proprietary predictive analytic engine (PRAN). “PRAN integrates with existing ERP solutions of retailers and leverages inmemory computing, enabling instant decision-making via mobile devices,” said a statement. Retigence’s clients include GS1 India, Manipal Hospitals, and other retail chains.