Sotira, a new startup, aims to combat the surplus inventory problem in the U.S., which accounts for 20%-30% of all stock and often ends in landfills. Founded by Amrita Bhasin and Gary Kwong, it leverages AI to help companies offload and monetize excess goods. Having raised $2 million in pre-seed funding, Sotira plans national expansion, targeting the Midwest and Southeast. The startup addresses challenges like near-expiration products and overstock through a unique matching system for suppliers and buyers, demonstrating substantial potential in a multi-billion-dollar market.
"We learned that the market opportunity for monetizing overstock is huge... It’s a multi-billion-dollar market, and it is a very old-school manual space..."
"Sotira helps to offload products that are nearing their expiration date, items that are facing storage capacity issues, and products that have been over-ordered."
"Sotira wants to solve the problem of surplus inventory in the U.S... leveraging AI to help companies offload and monetize their surplus inventory."
"The company has closed a $2 million pre-seed funding round... to expand its operations nationally, specifically the midwest and southeast."
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