By Tatiana Bautzer
SAO PAULO, Jan 19 (Reuters) – Private equity firm Warburg Pimcus is investing $40 million for an undisclosed minority stake in retail data company Scanntech to finance its expansion, executives of both companies said.
Founded in Uruguay in 1992, Scanntech has been expanding in Brazil for five years, using purchasing data in supermarkets to develop models that help predict consumer behavior. Scanntech gets data of 30,000 stores in Brazil, and provides services to 400 supermarket chains in the country, co-founder Raul Polakof said in an interview with Reuters.
Using the purchasing data, Scanntech suggests products mix or price changes aimed at increasing sales and reducing excess inventory in stores. Beyond Uruguay and Brazil, the company also operates in Argentina and Peru.
"Scanntech built an unique network of supermarkets where data is gathered, and that was key in our investment decision", said Henrique Muramoto, Warburg Pincus partner in Brazil. Scanntech is the fund's fifth invested tech company in Brazil. Other investors in the company include IFC, Hindiana and Endeavor Catalyst. (Reporting by Tatiana Bautzer in Sao Paulo)
Seragon Biosciences, Inc. today announced the launch of RESTORIN®, an advanced nutraceutical for healthy aging. RESTORIN integrates a series of patented technologies from Harvard University, Mayo Clinic, and Scripps Research to boost cellular nicotinamide adenine dinucleotide (NAD+) levels and enhance senolytic stimulation.
LONDON (Reuters) -British supermarket chains Asda and Morrisons have settled a multi-million pound lawsuit against Mastercard over fees charged to retailers. The two companies reached an agreement with the global payments processor and withdrew their cases on Tuesday, according to an order published by the Competition Appeal Tribunal (CAT). "We're pleased to have settled and will continue to work with Asda and Morrisons on convenient, safe and secure electronic payments in their stores," a spokesperson for Mastercard said in a statement.
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Lately, growth stocks have taken it on the chin. Despite macroeconomic headwinds, many growth stocks are fantastic businesses that will continue to impress for years to come. Let's take a look at three growth stocks that are poised for bull runs in 2023: Advanced Micro Devices (NASDAQ: AMD), Cloudflare,(NYSE: NET) and Airbnb (NASDAQ: ABNB).
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