Cork-based smart sourcing firm Keelvar secures $24m in investment

University College Cork spin-out helps the like of Coca-Cola and Tesco deal with supply chain disruptions

Keelvar founder and chief executive Alan Holland: "Procurement has never been busier because companies can no longer secure long term contracts with suppliers like they used to be able too.“

Keelvar, a Cork-headquartered company that uses artificial intelligence (AI) and machine learning to help enterprises such as Coca-Cola, Nestle, Samsung and Tesco to overcome supply chain difficulties, has raised $24 million (€23 million) in a Series B funding round.

The investment was led by 83North, an Israeli venture capital firm with over $1 billion under management that has backed 14 unicorns to date out of 86 investments, including Just Eat, iZettle and Paynoneer. It brings ...