
The company uses AI to connect brands with buyers, facilitating the offloading and monetization of excess goods that would otherwise end up in landfills. With an estimated 20-30% of U.S. inventory classified as surplus, Sotira addresses a significant problem in the grocery, health and wellness, and cosmetics industries. The new funding will be used to expand Sotira’s operations nationally, particularly in the Midwest and Southeast.
Founded by CEO Amrita Bhasin and CTO Gary Kwong, who met at UC Berkeley, Sotira evolved from their shared experience in the e-commerce and logistics sector. After running a liquidation business together, they recognized the vast, yet antiquated, market for overstock monetization. Bhasin noted the multi-billion dollar opportunity, highlighting the manual, pen-and-paper processes still prevalent in the industry. This realization spurred the creation of Sotira.
Sotira helps brands offload products nearing expiration, those facing storage constraints, or simply over-ordered items. Vetted suppliers can register on the platform and link their inventory data. Sotira’s AI then matches these products with verified, brick-and-mortar store buyers across the country. Buyers can specify the types of inventory they seek, and Sotira’s AI facilitates the matching process. The platform automates compliance, transactions, and logistics, ensuring suppliers are paid upon pickup. Sotira aims to clear surplus inventory within days of receiving the data.
Previously, brands had to manually contact liquidators, comparing offers and negotiating prices. Sotira digitizes and streamlines this process, significantly accelerating inventory clearance. The company operates on a monthly subscription fee and takes a percentage of each transaction.
Beyond benefiting suppliers and buyers, Sotira also aims to increase access to affordable premium products. Bhasin explained that they work with CPG beverage brands, for example, that offload excess inventory to discount grocery stores, providing valuable access to essential goods, particularly in rural and lower-income communities. She also pointed out that California’s new legislation restricting grocery store dumping has created additional opportunities for Sotira.
Looking ahead, Sotira plans to expand beyond its current product categories into apparel, as they are already receiving interest from clothing and shoe brands. The $2 million pre-seed round included participation from Unusual Ventures, Night Capital, K5 Global, Ritual Capital, and other investors.