Formulate a startup which delivers AI-driven solutions for retail promotions.

Formulate provides retailers and suppliers with AI based analysis of promotion performance.

Formulate was founded in 2016 by Andreas Willgert and Arvid Stenback. The company is headquartered in Stockholm, Sweden.

Formulate analyses and forecasts all your promotions, so you can see what’s working and what’s not in your categories, make better and faster decisions, and succeed with your supplier negotiations.

Formulate uses advanced AI and your transactions data to help you make better and faster promotion decisions for your business. Its well-documented API connects and fuses data from multiple sources into our environment which is optimised for analytics.


Formulate has developed the ‘Retail DecisionCloud’, a cloud-based AI SaaS solution, which evaluates, forecasts, and enables continuous improvement of retail promotions. It has already nabbed major clients like leading Swedish retailers Coop and Apoteket.


Formulate has closed it's late seed round of €3.7M on Jan 30, 2020. The investment was led by henQ and with the participation of Industrifonden and J12 Ventures.



  • Year founded: 2016
  • Funding Info: €3.7M over 1 Round (Funding Type: Seed- Series Unknown)
  • Yearly Revenue: NA
  • Employee Size: 11-50
  • Business Valuation: NA
  • City/Town: Stockholm
  • State: Stockholm
  • Country: Sweden
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