Artificial Intelligence Investment by Lyric: Powering AI-Enhanced Logistics Networks (Valued at $43.5m)
Mondelez International, one of the world's largest food and snack manufacturers, has announced its adoption of Lyric's AI-powered platform. This move comes as venture capital continues to flow into AI-heavy companies across logistics and supply chain management.
Lyric, a leading player in the field, has recently secured a $43.5 million Series B round, led by Insight Partners. The funding round also saw participation from Primary, Permanent Capital Ventures, VMG Partners, PSP Partners, and NewBuild VC.
The investment is seen as a testament to Lyric's momentum and potential. Ganesh Ramakrishna, Co-Founder and CEO of Lyric, expressed that today's supply chains are too complex and volatile for static software. He believes that the industry is not just ready for the shift towards AI in supply chain operations, but is demanding it.
The new funding will enable Lyric to expand its platform and continue building the infrastructure for the next era of supply chain operations. The company is positioning itself squarely at the center of the movement towards AI in supply chain operations.
Natesh Rao, Supply Chain Leader at Mondelez, stated that Lyric's platform is expanding their capabilities into many unique use cases with speed and agility. The old model of rigid, one-size-fits-all planning tools cannot keep up with the volatility of modern trade, disruptions, and consumer demand.
Gartner has named Lyric a 2025 Cool Vendor in cross-functional supply chain technology, highlighting Lyric's ability to tackle complexity with an adaptable, AI-first approach. The market's appetite is for tools that deliver adaptive, data-powered decision-making.
Investors are increasingly betting that artificial intelligence can help companies react faster and anticipate and prevent bottlenecks. The investment in Lyric is also a sign of the broader shift in investor attention towards technology that can keep pace with complex global logistics.
Lyric's leadership views this funding as more than just scaling; it's about a deeper transformation in how supply chain operations. The funding will be used to fuel the growth of Lyric's AI-driven supply chain intelligence platform, aiming to revolutionise the industry.
The recognition from Gartner and the investment from prominent venture capital firms underscore the potential of Lyric's AI-driven platform to reshape the future of supply chain management.
Read also:
- Global Content Dissemination Through Cross-Linguistic Voiceovers
- Development of Restaurant Apps: Expenses and Essential Elements
- Time is of the essence
- European transportation's sustainability and competitiveness rely on a "green industrial agreement" that serves the interests of both corporations and residents, as discussed in an Editorial from August 2024.
){kind=link}