Madrid, February 16, 2022. Wayra, Telefónica's open innovation hub, is investing again in Optimus Price, the leading solution in Spain for AI-powered price optimization and dynamic pricing for e-commerce. This time, Wayra participated in the €1 million investment round, which the company will use to enhance its technology with pricing models for new sectors and products.
Optimus Price is a cloud-based software (SaaS) that uses Artificial Intelligence to improve sales for businesses, both brick-and-mortar and e-commerce. Through AI, it ensures that each product in the catalog always has the optimal price based on market demand. In 2020, demand for pricing software increased by a record 75%. Half of all businesses still set prices manually, which is inefficient and impacts their competitiveness. Optimus Price has developed a unique technology that allows combining price elasticity with demand and competitor analysis to effortlessly and automatically improve sales. In addition to Wayra, the current round included participation from Zone2boost, the international innovation program powered by CaixaBank, Visa, Global Payments, and Worldline; several international business angels, including two of the most important in Spain, Albert Armengol and Andreas Mihalovits; and nearly 500 micro-investors through a crowdfunding campaign on the Crowdcube platform. “With the push towards digitalization we have experienced in recent years, it is almost impossible to imagine a “A brick-and-mortar or e-commerce business that doesn't leverage the latest technology for more efficient inventory management and pricing strategies is at a disadvantage. At Wayra, we've reinvested in Optimus Price because we know they're doing essential work for all businesses looking to boost sales through the use of Artificial Intelligence,” explains Marta Antúnez, director of Wayra Barcelona. “We are very grateful to our investors for sharing our vision and seeing the potential of our platform and the pricing market. We are pleased to see the interest generated by our commercial traction,” says Carlos Fenollosa, CEO of Optimus Price.