Handshake Secures $3.2 Million for AI Retail Contract Management
Handshake has raised $3.2 million to develop an AI platform focused on managing supplier agreements for retailers. This funding highlights a growing trend in investment towards AI-driven solutions in the retail sector, addressing key challenges faced by buying teams.
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Handshake, established in 2024 in London, has secured $3.2 million for an AI platform aimed at enhancing the management of commercial agreements between suppliers and retailers. The funding round was led by Triple Point Ventures and included support from Future Back Ventures, Octopus Ventures, and other retail investors.
The company reveals that fewer than half of suppliers maintain written agreements with retailers, underscoring a significant gap in contract management. The capital will facilitate the expansion of Handshake's engineering and customer success teams, while also strengthening collaborations with retailers and suppliers. This initiative represents a strategic response to operational challenges in retail, driven by margin pressures and complex supplier dynamics, and indicates a broader industry shift towards automation.
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