From Bootstrapped Startup to Finnish Tech Unicorn: RELEX Solutions' Rise w/ Johanna Småros, RELEX Solutions

Billion Dollar Moves™ with Sarah Chen-Spellings | Global Venture Capital

This week, we have the pleasure of speaking with Johanna Småros, co-founder of RELEX Solutions, one of Finland's leading unicorns. In our conversation, we delve into the unique path of RELEX Solutions, which was bootstrapped for more than 10 years and built “The Finnish Way” - practical and transparent.

Tune in to today’s episode to learn more about the intricacies of global supply chain solutions, the Finnish entrepreneurial ecosystem, and why it's important to “stop stupid things”.

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TIMESTAMPS / KEY TAKEAWAYS

0:00 - Intro

02:53 - Johanna pursuing engineering encouraged by her family; road to becoming a researcher at Helsinki University of Technology

06:18 - The shift from academia to practical implications; starting RELEX with co-founders Mikko Kärkkäinen and Michael Falck

11:07 - The supply chain scene in 2005 and building the infrastructure with forecasting and replenishment solutions

15:13 - RELEX’s market entry in Finland: every client is an R&D project

17:05 - Scaling up with Finland as an R&D hub; “You have to generalize almost at the start, which gives you an upper hand because then you're versatile.”

20:09 - Complexities faced when starting RELEX; “it's not very helpful to have three tires in stock,” Johanna’s shift to sales, venturing into countries outside Finland

23:17 - Choosing the right partners; “we were never like friends in that sense.”

25:57 - The supply chain scene today with advancements in AI technology

28:36 - From bootstrapped to private equity: one of the only Finnish companies that has raised over €800 million

30:19 - Building and scaling a company in Finland: language and picking funders

33:13 - The Finnish entrepreneurial ecosystem

36:15 - The five elements of the RELEX culture; the future of RELEX

41:29 - Billion Dollar Questions

ABOUT JOHANNA

It all started when Johanna joined the Logistics Research Group at Helsinki University of Technology in the late 1990s. During her years in academia, she studied several aspects of supply chain management, including inter-company collaboration, forecasting and replenishment, e-commerce, and value-added services. Her doctoral dissertation focused on collaboration between grocery retailers and suppliers, which then led her to the practical solutions that RELEX Solutions later provided for the world.

ABOUT RELEX SOLUTIONS

Together with two fellow researchers, Mikko Kärkkäinen and Mikael Falck, Johanna founded RELEX in 2005. RELEX has provided a means for turning research innovations into practice and further developing them by making use of the latest developments in technology, such as in-memory computing.

RELEX helps retailers and consumer brands drive profitable growth across all sales and distribution channels by maximizing customer satisfaction and minimizing operative costs. Leading brands like Ahold Delhaize USA, Stokke, Kwik Trip, and Rossmann trust RELEX to optimize their supply chain and retail planning.

MORE ON: https://www.relexsolutions.com/

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