Hakio raises historic €4 million seed round

We’re beyond excited to announce that People Ventures and Dreamcraft Ventures have become part of Hakio. Managing partner at People Ventures, Claus Zibrandtsen, shares his excitement:

"We’re thrilled to become part of Hakio as we believe they have the technology and team to significantly reshape the future of fashion planning. They offer the potential to save billions of euros lost to poor forecasting and transform how businesses operate”

Scaling Hakio to the next level

Hakio is now positioned for remarkable growth and the added capital is pivotal to keep expanding the team of talented problem-solvers and continue developing and refining the platform.

“At Hakio, we are driven by a commitment to reduce waste and cut losses due to bad forecasting”, says Malte Bjerg Vittrup, CEO of Hakio, and continues:

“We already help brands reduce costs and improve profits, but now, thanks to our new investors, we have the resources and knowledge to further develop and scale Hakio to the next level, and we can’t wait to get going”

Solving a critical challenge for fashion companies

The new seven-figure investment is a testament to the potential of Hakio. Demand planning is a well-known pain for fashion brands as it has been notoriously hard to predict future sales in the industry due to a variety of influences, leading to either excess stock or costly stockouts.

“We experience that a lot of fashion brands have a lot of unused data available that we can break down using advanced algorithms and thereby make much more accurate predictions about future sales”, says Simon Kristensen, CPO of Hakio.

And improving forecasting is a good business case for fashion companies as Simon explains:

“By increasing the accuracy of sales predictions, we contribute to addressing the pressing issue with waste in the industry. With Hakio, fashion companies become better at stocking the right quantities, thus losing fewer orders and tying up less capital. That’s a good business case as it equals more liquid cash and higher product availability.”

Moving forward

The team behind Hakio has already grown substantially during the last couple of months, and the intention is to use the investment to continue adding new talented colleagues to further develop Hakio’s platform.

Over the upcoming months, focus will be on refining platform features with current customer’s as well as onboarding new customers to the platform. CEO of Hakio, Malte Bjerg Vittrup, adds:

“Looking ahead, we will engage in close collaboration with fashion executives to help them understand how the insights we deliver can be used to make more informed decisions that drive real business impact.”

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