AI platform Mad Street Den acquires inventory management Inturn

Artificial intelligence-based visual solutions provider, Mad Street Den (MSD), acquired inventory management player, Inturn, yesterday for an undisclosed amount. Inturn is a New York-based company which provides solutions for managing excess inventory through its platform. 
 
It was founded in 2013 by Ronen Lazar and Charlie Ifrah.
 
Ashwini Asokan, Co-founder and CEO of Mad Street Den, announced the acquisition on social media platform, Twitter. She said, “I'm excited to welcome Excess Inventory Management and Off Price Retail SaaS leader @InturnHQ to the @MadStreetDen team.”

 
Mad Street Den was founded in 2016 by Asokan and Anand Chandrasekharan. The US-based SaaS company’s vision is to build models of generalisable intelligence and create actionable ways to contextualise AI on scale. It wants to ensure that people across the globe become AI native.
 
MSD launched its offering, vue.ai, in its inception year for enabling intelligent retail automation. Asokan highlighted in her post how the acquisition will be a boon for this platform. “This acquisition marks @vue_ai foray into excess inventory management & margin optimization for brands everywhere,” she wrote. 
 
According to data intelligence platform, Cunchbase, MSD has raised $47 million in total. It is backed by several investors including the likes of Global Brain Corporation, Sequoia Capital India, Exfinity Venture Partners, Array VC, and more. 
 
In June this year, MSD announced its partnership with Tata Digital for its Tata Neu app. The collaboration was aimed at elevating the shopping experience of the app users.

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