Sotira operates a marketplace connecting brands, manufacturers, and retailers with buyers in the off-price retail sector for surplus and short-dated inventory. Sellers recover capital and clear storage space by efficiently moving overstock, while buyers gain access to discounted, qualified branded consumer packaged goods. The platform streamlines the transaction process, handling compliance and logistics for fast inventory offloading.
Funding
$180K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Food, beverage, health and wellness, and beauty brands often face challenges in managing surplus inventory, leading to increased carrying costs, storage space limitations, and potential losses from disposal. Traditional liquidation methods can be inefficient and yield lower returns compared to the original value of the goods.
Solution
Sotira provides a platform designed to automate the process of offloading and monetizing surplus inventory for suppliers in the food and beverage, health and wellness, and beauty sectors. The platform connects suppliers with a network of vetted buyers, streamlining logistics and payment processing to facilitate quick transactions. By using Sotira, suppliers can unlock cash from excess stock, reduce carrying costs, and free up valuable storage space. The platform handles purchase order agreements, compliance, and payments, eliminating the need for manual processes and wire transfers.
Target Audience
Sotira primarily targets food and beverage, health and wellness, and beauty brands, as well as 3PL warehouses that need to efficiently manage and monetize surplus, short-dated, or discontinued inventory. The platform also caters to brick and mortar stores looking to procure surplus goods at discounted prices.
Features
- Automated matching of surplus inventory with verified buyers based on product type and location.
- Streamlined logistics management, including purchase order agreements, incoterms, and compliance.
- Secure and efficient payment processing, eliminating the need for manual wire transfers.
- Real-time inventory tracking and reporting to provide visibility into surplus stock levels.
- Integration with existing warehouse management systems for seamless data transfer.
- AI-powered recommendations for optimal pricing and liquidation strategies.
- Customizable deal creation and negotiation tools for suppliers and buyers.