[TechUkraine news] U.S.-based CognitOps opens R&D center in Kyiv

U.S.-based IT company CognitOps, a provider of artificial intelligence-based warehouse applications, raised $ 11 million within the Series A funding round and announced opening a software development center in Kyiv, Ukraine.

FirstMark Capital led the investment round, with all of the company’s major investors participating, including Chicago Ventures, Schematic Ventures, Haystack, and CEAS Investments.

CognitOps will use the funds to expand internationally, increase sales capacity, and expand product development. Although global supply chains have invested over $10 billion in warehouse management solutions (WMS) over the past five years, operators are still struggling to adapt to labor shortages, accelerated service levels, and disrupted supply bases. The CognitOps platform empowers supply chain leaders to make better, faster decisions to manage complexity, reduce cost, and improve cycle time without the need to upgrade or replace their existing investments.

via Business Wire, Interfax-Ukraine