Loughborough Student raises $500,000 funding for AI inventory management start-up

Second year Finance and Management student Alex Dillon.

Second-year Loughborough Business School student Alexander Dillon and co-founder Kristian Lukauskis recently raised $500,000 of pre-seed funding for their AI-powered inventory management platform.

Alexander Dillon, who studies Finance and Management, is making his mark beyond the classroom as one of the co-founders of ChatBlu, a new technology start-up aimed at automating many manual processes within online retail.

Described by the founders as ‘the first fully autonomous inventory management agent for online stores’, they hope that ChatBlu will revolutionise the e-commerce industry by eliminating time-consuming administrative tasks.

The company was co-founded with a close friend from high school, Kristian, after the pair recognised a significant gap in tools available to online retailers.

“We saw that most inventory management systems were basically glorified Excel sheets,” Alex explained. “There wasn’t anything that truly automated the process for e-commerce sellers, so we set out to build something that does.”

Initially conceived as a customer support tool, ChatBlu’s concept evolved after discussions with mentors and venture capital advisors. By early 2025, the duo had refined their idea, assembled a group of experienced professionals, including engineers from Amazon, Apple, Meta, and Shutterfly, before opening a pre-seed funding round that quickly gained traction.

Second year Finance and Management student Alex Dillon sitting on a boat.

Originally from Valencia, Alex transferred to Loughborough after completing one year of university in Geneva, attracted by Loughborough’s strong reputation for business education and its close-knit, sport-oriented community.

Despite the rapid growth of ChatBlu, Alex remains committed to completing his degree, highlighting the practical, real-world applicability of the teaching.

He said: “We’re managing different teams and groups of engineers, and the management concepts we study at Loughborough are great to embed into our own working practices. It’s one thing to learn about business theory, but another to see it in action at your own company in real time.”

Alex plans to continue developing ChatBlu after graduation while keeping up his studies to secure his degree, explaining:

“Some people go all in on their start-up, but for me there’s no downside in finishing my degree. Having a well-respected qualification gives you stability and enhances your CV, no matter what the future brings.”

For Alex, purpose-driven entrepreneurship is a key factor behind his continued enthusiasm for developing the company.

He said: “Inventory management is tedious and time-consuming. Our goal is to free up business owners’ time so they can focus on their brand instead of updating spreadsheets. Within our niche, that’s how we make a real difference.”