The news:
Retail AI startup Hivery has entered administration, appointing Christopher Johnson and Andrew McCabe from Wexted Advisors as administrators.
The numbers:
Administrators were appointed on 6 November, with the first creditors’ meeting scheduled for 15 November, according to ASIC documents.
The context:
Founded in 2015, Hivery specializes in AI-driven space-aware assortment optimization for retailers. In 2022, the startup secured a US$30 million Series B funding round led by Tiger Global, with participation from existing investors Blackbird Ventures, AS1 Partners, and OneVentures.