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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, an operation which we regard as an important milestone for the company.

InovRetail’s core business is to develop advanced analytics tools, focused on assisting retailers in making more informed decisions and improving their performance, with a positioning we believe to be innovative, distinctive and different from anything else in the market. The company’s resources were a key factor in our decision-making process, as the company relies on a high-quality management team.

We consider this investment crucial for our corporate venturing strategy that is focused on retail-related tech companies. The next short-term steps include accelerating growth in the markets where InovRetail is already operating, as well as entering new strategically defined ones. Consequently, in the near future there will be an investment into increasing the team, improving its SaaS platform and enhancing research and development.

The strategy laid out by Sonae IM also contemplates this: to invest in teams and companies in which we recognise the potential and the ambition to grow globally in distinctive technology areas. We shall do everything to contribute to reach the established goals, which entail making InovRetail an international player of great relevance in its field.

 

Eduardo Piedade
Administrador da Sonae IM / Executive Director

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