brand logo

UK-based Kavida AI invests half a million in 'Resilient Sri Lanka'

22 Aug 2022

UK-based digital supply chain startup Kavida, facilitated by the American Chamber of Commerce (AMCHAM) in Sri Lanka, has launched Resilient Sri Lanka, a new industry forum on a mission to build resilience into Sri Lanka manufacturing. Commenting on the event, Kavida CEO/Co-founder Anam Rahman stated: “Last year, we built  strong working relationships with 31 apparel manufacturers, and have spoken to over 500 merchandisers in the country. It was clear the new operating environment requires new solutions. We are therefore delighted to announce our investment of over $ 500,000 over the next 18 months to support the Sri Lankan apparel resilience through forums and leverage our capabilities in Artificial Intelligence (AI).” The forum launched its first event with ‘De-risking Sri Lankan Apparel”, an in-person workshop on 18 August 2022, at Cinnamon Lakeside Colombo. The event brought together over 50 high-ranking apparel industry leaders from Sri Lanka, together with US and UK brands, to address the new triple threat of domestic economic turmoil, global supply chain disruptions, and new Environmental, Social, and Governance (ESG) regulations. Rahman added: “The event was joined by the Joint Apparel Association Forum (JAAF), who will play an active role in defining the focus areas of the forum to ensure alignment on strategic goals.” JAAF Chairman Sharad Amalean stated: ”The Resilient Sri Lanka forum is exactly what the country needs. We are delighted to be playing a role and supporting the resilience of our major industries.” The objective was to help reduce the risk profile of Sri Lanka’s apparel sector through innovation, collaboration, and ingenuity. Participants included renowned Sri Lankan industry leaders, UK and US fashion brands, as well technology providers. The event is the first public initiative by Kavida in Sri Lanka, despite investigating the resilience problem in Sri Lanka for over two years. The company has raised over $ 1 million in funding from investors such as Qima, a global leader in supply chain quality assurance, and will be allocating a large part of that capital into Sri Lanka. “AMCHAM Sri Lanka is thrilled to partner with Kavida on this initiative. We believe that Sri Lanka has a great opportunity from the estimated $ 150 billion, in trade shifting across the region due to supply chain concerns, and connecting our member companies to and through these opportunities via the Resilient Sri Lanka Forum is a brilliant way to be proactive in this,” stated AMCHAM General Manager and Chamber Head Vrai Raymond.


More News..