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Eduardo Piedade

Sonae IM makes solid bet on InovRetail

18 July 2016

Last week,Sonae IM  acquired a stake in InovRetail, becoming a reference shareholder in this technology startup, anoperation which we regard as an important milestone for the company.

InovRetail’score business is to develop advanced analytics tools, focused on assistingretailers in making more informed decisions and improving their performance,with a positioning we believe to be innovative, distinctive and different fromanything else in the market. The company’s resources were a key factor in ourdecision-making process, as the company relies on a high-quality managementteam.

We considerthis investment crucial for our corporate venturing strategy that is focused onretail-related tech companies. The next short-term steps include acceleratinggrowth in the markets where InovRetail is already operating, as well asentering new strategically defined ones. Consequently, in the near future therewill be an investment into increasing the team, improving its SaaS platform andenhancing research and development.

Thestrategy laid out by Sonae IM also contemplates this: to invest in teams andcompanies in which we recognise the potential and the ambition to grow globallyin distinctive technology areas. We shall do everything to contribute to reachthe established goals, which entail making InovRetail an international playerof great relevance in its field.

 

Eduardo Piedade
Administrador da Sonae IM / Executive Director

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