ePallet, the artificial intelligence (AI) powered platform providing a more efficient and cost-effective way to buy and sell food and consumables in full pallet increments; today announced it had raised $3 million in funding. The latest round of funding will allow ePallet to continue to aggressively hire and expand its team in addition to position the company for a Series A round of financing in 2019.
ePallet, headquartered in Los Angeles, California, offers an innovative approach that disrupts the traditional supply chain where layers of middlemen typically add markups of 10% to 40%. With ePallet’s machine learning platform delivering “True Wholesale,” customers benefit from real-time, net-net delivered pricing in full-pallet increments. While manufacturers gain a competitive advantage from ePallet’s lean logistics which allows them to provide their products at very attractive prices. In addition, ePallet enables manufacturers to reduce their overall operating costs by offloading every detail of servicing pallet-quantity customers, including freight, billing, and customer service.
“With the $3 million we’ve raised to date, ePallet is looking forward to increasing its reach in 2019, growing our team, and strengthening our mission of fixing the inefficiencies in the food supply chain to give everyone access to quality, affordable food products they deserve,” said James Kwon, ePallet CEO.