What buyers want

MIT News - July 10, 2015

U.S. retail chains often rely on intuition in choosing which products, from a vast inventory, will sell best at stores across the nation. Now MIT spinout Celect is refining this process with novel data analytics, revealing interesting insights into how retailers can optimize their shelf space.

Co-founded by MIT professors Vivek Farias and Devavrat Shah, Celect develops software that crunches a store’s sales and inventory data — and, sometimes, online buying data — to determine which products local customers want to buy.

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MIT-Founded Celect Secures $5 Million in Series A Funding

Financing, led by August Capital with participation from Activant Capital Group, will be used to expand team, open new Boston headquarters and further promote Celect’s breakthrough choice modeling technology. 

Boston, MA  June 25, 2015 -- Celect, a fully data-driven customer choice modeling suite, launched today with $5 million in Series A funding led by August Capital with participation from Activant Capital Group.

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The hat whisperers: This Boston startup tracks shopper’s habits to help brick-and-mortar stores make sales

The Boston Globe - June 25, 2015

In suburban Michigan, a gaggle of church-going ladies are cooing over the new selection of formal hats at their local Bon-Ton department store. And at the chain’s store in Lancaster, Pennsylvania, women who love handbags now can snag Michael Kors purses.

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Celect lands $5M to help stores figure out which sweaters you like best

Venture Beat - June 25, 2015

Those sweaters on sale at your favorite department store could be in the process of being optimized by an M.I.T. spinoff.

Boston-based Celect, founded in 2013 by two M.I.T. professors, is today announcing it has scored $5 million to help retailers select and distribute their products in ways that reflect buying patterns.

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