RNV.ai, operating under Entertech Istanbul Teknokent, offers solutions to resource utilisation problems in different sectors, especially textile, with the support of artificial intelligence. The initiative, which got an investment of 1.1 million dollars in recent months, helps retailers in areas such as demand forecasting, inventory optimisation and operational efficiency, inventory management and customer satisfaction. Founded in 2020 by Gökhan Yücel and Ahmet Kayıran, who have been working in the retail sector for many years and realised the resource utilisation problems in companies and focused on this field, RNV.ai developed its own artificial intelligence algorithms and has so far been a finalist in the İş Bank Artificial Intelligence Factory and second place in the ‘’Top Debuting Artificial Intelligence Startups‘’ competition held in London.
Labour-intensive jobs are automated
The innovative project enables the processing of big data with artificial intelligence algorithms to predict customer demand based on product features. In addition, forecasting processes are productised within the scope of software for service and offered to customers. In this way, by returning from traditional methods to structures that work in an integrated manner with data sources, job titles that require intensive employee labour are automated. It quickly improves the labour/time balance, especially for retail sector employees.
Gökhan Yücel, CEO of RNV.ai, said that they have seen that there are great opportunities, especially in the field of inventory optimisation with innovative approaches and artificial intelligence algorithms in companies where they have worked as white collars for many years: “Thanks to our solution, we aim to meet customer needs with the right product in the right location at the right time by optimising resource management. In this way, in the textile sector, which is one of the sectors with the highest water consumption, water waste is prevented, and intensive water savings are achieved. A more efficient process is designed thanks to optimised resources. Higher sales with lower stocks and products, lower logistics costs and carbon emissions are reduced. We have identified different areas such as spare parts, automotive, jewellery, food and beverage, starting from textile retail as the target sector.”
Ahmet Kayıran, CTO of RNV.ai, stated that they have received an investment of 1.1 million dollars from Inveo Ventures, Türkiye Development Fund, Arz Portföy, Maxis Ventures and Maxis 100th year GSYF representing Artificial Intelligence Factory and that they aim to reach a much wider masses by increasing the number of customers globally with this investment.