The colombian startup Celes is the new addition to the portfolio of Wayra Hispam, the open innovation initiative and corporate investment fund of Telefónica Movistar, which already has over 100 startups.
This is part of their commitment to continue promoting the growth of the digital startup ecosystem in the region.
Celes is a platform that uses data analysis and artificial intelligence to help improve businesses’ cash flow.
Its goal is to optimize inventories, improve prices, and build customer loyalty for regional stores.
Artificial Intelligence is just one of the areas in which Wayra Hispam invests. Still, it stands out due to its great potential to revolutionize various industries and create new business opportunities.
Wayra Hispam began as the accelerator of Telefónica Movistar in 2011, and in 2018, it transformed into the investment and innovation arm of the company, modifying its investment strategy.
Since then, it has invested more than USD $ 20 million in startups in Hispanoamérica.
“We are delighted to incorporate Celes into our portfolio at a time when artificial intelligence represents a significant opportunity to stay at the forefront of innovation, ensuring a more digitized competitive future.”
“Through Celes, we can generate significant value for our retail clients, providing them with a powerful tool for better inventory management, enabling them to understand their customers better and anticipate their needs,” highlighted Agustín Rotondo, Managing Director of Wayra Hispam.
Celes, on the other hand, is a Colombian startup founded in Barranquilla in 2019 by Luis Almanza (CEO), Luis Ballestas (COO), and David Florian (CTO).
Initially, the company focused on data analysis consulting but later turned it into a platform that optimizes inventories through a software-as-a-service (SaaS) solution.
Currently, the platform serves more than 400 points of sale, with around 3 million end consumers and connections to about 20 ERP and POS systems in Colombia, Peru, Bolivia, and Ireland.
Celes has completed a USD$1 million investment round in which Wayra Hispam and investors like Primeline (based in Ireland), Matter Scale, Rockstart, and several angel investors participated.
With these funds, the founders of Celes plan to expand their sales team in various retail segments, including pharmacies, hardware stores, supermarkets, and clothing stores.
“Wayra represents a great opportunity for our growth. Having the support of such an important company as Telefónica instills great confidence in Celes’ value proposition to revolutionize retail in Latin America and the world,” explained Luis Almanza, CEO of Celes.
Additionally, they plan to invest in developing more features to facilitate retailers’ operations and marketing strategies to promote their proposal.
Wayra Hispam plans to add at least three more startups to its portfolio before the year ends, reinforcing its commitment to strengthening and promoting the startup ecosystem contributing to employment and technological advancement.
