Core Insights - RedCloud Holdings plc has signed a joint venture to deploy its RedAI platform in Türkiye, with a minimum contract value of $5 million per year over ten years, targeting the $166 billion Fast Moving Consumer Goods (FMCG) market [1][12] - The Turkish FMCG market is estimated to have a $22 billion inventory gap due to systemic inefficiencies and outdated practices [2][12] - The joint venture aims to enhance supply chain efficiency and economic growth in Türkiye by leveraging AI technology [4][5] Company Overview - RedCloud's mission is to build intelligent infrastructure for global trade through its RedAI platform, which aggregates proprietary trading and market data [9] - The company reported a full-year 2024 revenue of $46.5 million, reflecting a 135% year-over-year growth, with a Total Transaction Value (TTV) of $2.5 billion processed [5] - RedCloud's platform traded 184,731 products from 6,765 FMCG brands across high-growth markets, serving various retail and hospitality sectors [6] Market Position - The joint venture in Türkiye follows a similar partnership in Saudi Arabia, indicating RedCloud's strategy to scale its AI-powered trading technology globally [4] - RedCloud Türkiye will be headquartered in Istanbul and is expected to launch operations in Q1 2026 [3] - The company aims to provide improved supply chain insights to retailers and critical market data to manufacturers and distributors, enhancing overall market performance [4]
RedCloud Signs Joint Venture To Transform $166Bn Turkish FMCG Market