Investors in the round include the bank's venture arm ING Ventures, venture capital fund Elev8 as well as EDB New Ventures, the corporate venture building arm of EDB.
Stemly has developed a platform to automate the forecasting as well as optimisation of a company's supply chain and finance processes. According to The Business Times, this addresses the gap in planning for demand in manufacturing and retail since it may take three weeks or more for companies to respond to market changes in consumer behaviour.
Stemly started within ING Labs Singapore, its team of 20 being spread across Singapore, India, Indonesia, Ireland, and Australia.
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