Now ready to disrupt the commodity intelligence market. Read the full press release here.
Fast-growing Amsterdam scale-up, Vesper, has raised €5 million in a seed round led by venture studio Slimmer AI. The round also saw participation from a number of angel investors including Adriaan Mol, two-time unicorn founder of Mollie and MessageBird. Launched by Alexander Sterk in October 2019, Vesper solves the tremendous challenges faced by commodity traders, buyers, and sellers, including a lack of accurate and independent information, antiquated and disparate systems, and the need for real-time value-add insights. The demand for commodity intelligence continues to soar, propelling towards an expected total market of $4.9 billion by 2026. Less than 2 years into their journey, Vesper is trusted by many of the biggest brands in the market, including Nestlé, Fonterra, Cargill, Unilever, Lactalis, and Danone. Through its offering, Vesper supports these clients to improve their trading strategies, make informed pricing decisions, and de-risk potential trades. “As a commodity trader, I felt the pain first-hand when using legacy systems—decentralised information, little innovation, and a lack of real-time actionable insights hindered my ability to do my job. It was clear the space was ripe for disruption,” says founder Alexander Sterk. “Vesper provides our customers with a leading-edge user experience and advanced predictive insights powered by AI, which will only be improved by working with Slimmer AI.” In addition to its superior UX/UI designed by buyers and sellers for buyers and sellers, Vesper offers a proprietary price benchmarking solution, the Vesper Price Index; and includes market forecasts powered by data science and AI. Vesper’s real-time pricing, volume/stock information, and forecast insights enable sellers, buyers, and traders to trade with confidence and ease.
With the additional capital secured in this seed round, Vesper will accelerate its growth ambitions through the launch of new commodities to the Vesper platform, and with strategic hires focused on commercial and technical excellence.
“Vesper is an exceptional commercial success story, especially at such an early stage. But what impressed me most was that Vesper built a superior product absolutely loved by their customers. We are excited to team up with Vesper to contribute to their successful scaling up.” says JC Heyneke, Slimmer AI CEO.
About Vesper: Vesper, vespertool.com, is an independent business intelligence platform that saves users hours of time looking for information and provides all relevant insights and data in one consolidated and personalised overview. Next to its proprietary Vesper Price Index, the platform offers price and stock calculations, real time futures and the most accurate forecast in the market with 90%+ probability using AI and machine learning.
About Slimmer AI: Slimmer AI is an AI B2B venture studio. We believe in the power of AI to power people’s work. We build, invest in, and support new B2B software ventures that apply AI to disrupt industries. For more information go to Slimmer AI.