Ohio construction and industrial supply distributor Winsupply announced Wednesday that it has acquired a minority stake in Mined XAI, a developer of artificial intelligence solutions that, officials said, turn "complex data into strategic insights."
The move follows a three-year partnership between the two Southwest Ohio companies. Together, they said that they aim to provide Mined XAI's "Explainable AI" solutions for distribution, supply chain, purchasing and fleet management applications.
Winsupply — no. 5 on ID's 2024 Big 50 list — said the move would provide "enhanced value" to its subsidiaries, customers and vendors, as well as fulfill its stated purpose to "build entrepreneurs."
Terms of the deal were not disclosed.
“This strategic investment keeps Winsupply at the forefront of leveraging this transformative technology to support entrepreneurs in a business environment of growing complexity,” Robert DiTommaso, the president of Winsupply's Support Services Group, said in the announcement. “We have seen the impact of using AI in our operational processes and we anticipate this relationship will accelerate our overall business operations."
"The trust we have cultivated over the past few years ensures we are aligned in our mission to develop XAI solutions that deliver significant value to Winsupply and the broader marketplace," added Mined XAI founder and President Ryan Kramer.
