Harmonya, a leading data analytics company, has raised $20 million to develop its groundbreaking technology that deciphers product data for consumer packaged goods (CPG) brands. Renowned venture capital companies led the funding round. This will help Harmonya to grow and improve its data analytics capabilities.
Harmonya provides CPG brands valuable insights and analysis by deciphering complex product data. This data includes information on ingredients, nutritional content, packaging, and consumer preferences. By leveraging advanced machine learning algorithms and AI, Harmonya’s technology can extract meaningful and actionable insights from vast product data.
The $20 million funding round will allow Harmonya to accelerate its research and development efforts, further enhancing its data analytics platform. The company plans to invest in expanding its team of data scientists and engineers, as well as in scaling its infrastructure to handle larger data sets. This will enable Harmonya to provide an even more accurate and comprehensive analysis of CPG brands.
In a recent LinkedIn post CEO Cem Kent stated:
‘This investment helps us enter an exciting phase of growth as we supercharge our efforts to bring Harmonya’s product data enrichment, categorization, and insights platform to even more CPGs & retailers. And of course, there would be no milestone to announce without the hard work of our many incredible employees dedicated to serving our customers the most relevant, cutting-edge technology in the industry.’
Harmonya has grown significantly since 2021, with four top CPG companies and US retailers as clients. Most of the expansion happened in the first half of 2023.
The newly acquired funding will be instrumental in expanding Harmonya’s research and development operations. It will allow the enhancement of its suite of tools for large enterprise clients and bolster essential areas like sales and marketing.
