Boston, MA, August 1, 2022 – Burns & Levinson represented Syrup Tech, the AI-powered predictive software platform for inventory excellence in commerce, in its $6.3 million seed funding round led by Gradient Ventures, Google's AI-focused venture fund. The round also included Flybridge Capital, Firstminute Capital, Rackhouse Ventures, as well as Angel investors including (former) executives at Adidas, Bonobos, Salesforce, ASOS, ThredUp, Casper, Zalando, and Stripe. 1984 Ventures, who led the company's pre-seed round last year, continued investing in this round.
The new funding, which was announced on July 13, 2022, will be used to scale Syrup's AI-powered platform, expand its reach, and develop new modules and features.
“We have been working with Syrup Tech since their founding in 2020 and are excited to be part of this next phase in the company’s growth,” said Chow. “Inventory planning is a critical issue for retailers and manufacturers, and this seed funding round will enable Syrup Tech to take its innovative solutions to the next level. We look forward to supporting their ongoing success as they expand their team and service offerings and explore new growth opportunities.”
“Robert Chow and his team at Burns & Levinson have provided invaluable wisdom and guidance on every facet of our startup business,” said James Theuerkauf, CEO and Co-Founder of Syrup Tech. “Their thoughtful advice has helped us accelerate our growth and their support with our pre-seed and seed funding raises were particularly important. We truly appreciate their trusted legal counsel.”
About Syrup Tech
Syrup Tech is an AI-powered predictive software venture for inventory excellence in commerce. Syrup's mission is to pave the way for a world where commerce is no longer a wasteful industry. The company's decision-support engine is empowering merchandisers and planners at omni-channel brands and retailers to make data-driven inventory decisions. Syrup was founded in 2020 and is based in New York. For more information, visit www.syrup.tech.