The Berlin-based AI start-up has put together an advisory board that is second to none. Zentis Co-CEO Norbert Weichele joins the board – Duravit CEO Stephan Tahy and Payback CEO Dominik Dommick complete FrontNow's advisory board.
The three advisory board members will assist founders Marc Funk, Bernhard Lihotzky and Cedric May in the further development of their B2B tech company in the future. "We are happy and grateful to have won over three outstanding entrepreneurial personalities and heavyweights in the consumer goods industry. However, we are not concerned with the undisputed charisma of the names. Each and every one of our advisory board members covers an elementary part of our business model with their expertise and network and, above all, shares our vision," said Lihotzky.
"We have all the merchants"
FrontNow has developed a learning algorithm that connects manufacturers of consumer goods (FMCG) with exactly the stationary retailer branch on whose shelf the product also ideally sells.
Funk says: "Based on data and artificial intelligence, we are able to determine the purchasing behavior of the clientele of every consumer goods retailer or supermarket branch in the country. So you could say we have all the retailers because we know what their clientele wants in terms of products and which ones they are most likely to buy."
The advisory board members use their expertise to advise the B2B company's founders on how to refine the value proposition for retailers and producers, among other things. "The sparring and feedback from our advisory boards is worth its weight in gold to perfectly align FrontNow with the challenges and desires of our industry and retail partners," Funk said.
"Equal opportunity with tech giants like Amazon"
Norbert Weichele: "FrontNow provides equal opportunities between tech giants like Amazon and brick-and-mortar retail, and I'm happy to help with this." Funk added: "Amazon has proven that they can make entire industries disappear from city centers. We want to prevent that and with our AI we offer stationary retail a tool that the tech giants have been using successfully for years."
Stephan Tahy: "FrontNow convinced me because the company strengthens stationary retail as a sales channel for theconsumer goods industry with a clever and logical approach."
Dominik Dommick: "I share FrontNow's vision to strengthen brick-and-mortar retail and city centers. FrontNow creates statistical images of the customer base of every supermarket in the country and thus knows where a particularly large number of customers actually shop for a product. This data-driven approach won me over." Funk adds: "We don't use any personal individual data of consumers and, unlike many tech giants such as Google, Facebook or Amazon, we are also not potentially in conflict with the DSGVO."