Optimus Price (Paradoxa Technologies, S.L.) is an AI company founded in 2017 by scientists from the Barcelona Supercomputing Center that offers a SaaS solution to automate price optimization across eCommerce and physical stores. Its technology matches price elasticity with demand and competitor pricing to ensure each product always has an optimal price. In February 2022 the company raised €1.0M to scale its operations. The funding will be used to scale operations across Europe, integrate the platform into new channels, and develop new AI algorithms to optimize prices and demand for new sectors and products. The capital came from private investors including Zone2boost, Wayra, business angels, and nearly 500 micro-investors via a Crowdcube crowdfunding campaign. The crowdfunding tranche far exceeded its initial goal. Optimus Price offers a platform that allows merchants to automate the pricing of their products. The company targets physical retail businesses in Spain, including electronics, fashion and food stores. Founded in 2015, Optimus Price did not launch its current platform until autumn 2019 after earlier failed product attempts. Management says the new funding will be used to improve the technology and to acquire new customers. Financially, the company reported €10,000 in revenue in 2019 and expects to reach €100,000 in the current year. Optimus Price currently has an eight-person team in Barcelona and plans to expand headcount to 14 with the new capital.

Total raised

$2M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2022