E-commerce has experienced an unprecedented boom in recent years. But whether an online shop really pays off for the operator is also a question of price. If the price is right, the Berlin-based startup 7Learnings promises a solution.
It offers its customers “Dynamic Pricing” with the help of artificial intelligence. With the High Tech Gründerfonds – HTGF for short – from Bonn, the startup has now found a well-known investor.
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Fresh money for the optimal price finder
The company, which was only founded at the beginning of 2019, is not the only one dealing with price optimization in online retailing. The “right” price is an old business problem. Every retailer finds himself in a conflict of goals between the highest possible profit margin and a price that promotes sales. Existing solutions usually start with the desired margin or are based on competitive prices. 7Learnings takes a different approach and pursues optimization based on price elasticity – i.e. the customers’ willingness to react to price changes. The 7Learnings founders hope to score points with this “unique” solution. The target group is online retailers with annual sales of 20 million euros or more. However, they also want to develop smaller dealers later on.
The Bonn-based High Tech Gründerfonds is participating in the start-up as lead investor with an undisclosed amount. The HGTF has been in existence since 2005 and was founded as a joint initiative of the German Federal Ministry of Economics, the Kreditanstalt für Wiederaufbau and six industrial companies. The HGTF acts as a seed investor in high-tech start-ups. In terms of sectors, the focus is on digital business models, industrial technology, life sciences, chemicals and related business areas. Since 2005, the HTGF has launched three funds with a volume of 900 million euros. More than 600 start-ups have been successfully supported on their way. The exit has already been realized for 100 of them.
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