November 8th, 2023
Warehouse Digital Twin Platform Raises Pre-seed Funding
Chicago, IL (October 2023): Arvist, a groundbreaking supply chain technology company based out of Chicago, IL, has successfully raised an oversubscribed round of $1.1 million in a pre-seed funding. The investment was led by an impressive lineup of venture capital firms, including Refashiond Ventures, Geek Ventures, Lofty Ventures, The Council Fund, Blue Impact Supply Chain Ventures, Techstars, New Leaf Ventures, ProChain Ventures, Chisos Capital, and EverPresent Ventures, along with contributions from a select group of angel investors. Arvist is located in the world renowned incubator, 1871 and has also been part of the Techstars (Techstars’ Industries of the Future) Accelerator.
Arvist’s founder and CEO, Nilay Parikh, is a first-generation immigrant with a Master’s degree in aerospace engineering from the University of Southern California. He has accumulated more than seven years of experience in the 3D printing and advanced manufacturing industry. His journey to founding Arvist was inspired by firsthand experiences while working in a global manufacturing firm that took him to supply chain sites across the globe, including China, Europe, the United States, and India. His visits to over 60 different warehouses, distribution centers, and manufacturing facilities revealed a startling inefficiency gap in the supply chain sector and a need for solutions which don’t rely on extensive investments, prompting him to create Arvist.
“Arvist’s pioneering approach combines real-time digital twin technology, artificial intelligence (AI), and marker technology allowing remote warehouse and distribution center operations,” says Parikh, “By harnessing existing data and security camera video, we improve the warehouse through-put and reduces inefficiencies and risks, all without the need for additional infrastructure investments.”
“I invested in Arvist because I was very impressed with Nilay’s unique insights on supply chain and logistics and the team they have put together,” says Amber Illig, Founding General Partner at The Council Fund, “Arvist is uniquely positioned to transform warehousing on a large scale by identifying bottlenecks and errors before they become huge liabilities. Arvist is set apart by its digital twin technology and hardware-agnostic approach.”
Ihar Mahaniok, Managing Partner at Geek Ventures, adds, “At Geek Ventures, we believe the supply chain market is primed for a major shift with the adoption of new technologies that will significantly benefit manufacturers and consumers. Arvist is led by an amazing immigrant founder and an experienced team, and we are thrilled to support their growth as they become a key player.”
This pre-seed funding round will enable Arvist to further advance its mission of transforming supply chain operations for a more efficient and sustainable future. The company has already gained significant recognition for its innovative approach to supply chain technology and is already being deployed at various sites around the country.
Arvist is building the control towers for warehousing operations. The company transforms warehouses and distribution centers with real-time digital twin technology with AI to unlock cost savings, drive up efficiencies and elevate safety without any additional infrastructure costs. Using existing infrastructure, data and security camera video combined with Arvists’ unique marker technology with AI, Arvist is developing a true remote operations platform. Warehouses are at the heart of the supply chain. Arvist’s mission is to empower supply chain professionals to gain insights from their existing infrastructure allowing for more efficient warehousing operations and creating a resilient supply chain for the world.