Prometei — a startup that simplifies trading on marketplaces using AI

Daulet Batyrbek, City — Almaty, CEO, founder, Instagram

How it all began

The Prometei project is a B2B platform designed to increase the revenue of sellers and suppliers of goods on marketplaces and online stores. We help both existing and new sellers optimize their sales on marketplaces and utilize a dropshipping system supported by artificial intelligence tools.

I have been working with marketplaces for seven years, trading on platforms such as Amazon, BigCommerce, Shopify, eBay, as well as in the Dubai and CIS markets. In the United States, I was an official dealer and retailer for brands like Marvel, DC Comics, and Hasbro, specializing in Iron Man and Spider-Man toys. To avoid account blocks and store closures, I had to negotiate with suppliers to operate on these platforms under official terms.

At some point, I began working in the Kazakhstani market. I collaborated with more than 160 major brands, signing contracts and actively working with them.

In 2020, my stores had over 25,000 products. Understanding that it was impossible to add all products manually, I decided to automate this process. Hiring an entire floor of managers would have been extremely inefficient.

With an IT background, I developed a platform that automatically added products from suppliers to my online stores, updated stock levels, and adjusted prices. I was able to manage products in five online stores simultaneously and use a dropshipping system where goods are purchased only after an order is received.

The system worked automatically: products were added, applications were processed by managers, and couriers delivered the orders. I came to the office only two or three days a week, and everything functioned perfectly.

Over time, I began being invited to SDU Business School and other business academies as a speaker on marketplaces. In Instagram, questions from people started appearing organically: how to find suppliers, negotiate with them, organize delivery, and where to start.

Thus, the idea emerged: many people who want to earn money on marketplaces do not have the initial capital to purchase goods. They buy products from China but cannot sell them.

About the project 

Prometei is named after the Greek titan who brought fire to people to make their lives easier. This story reflects the idea of the project. 

For example, a person wants to earn money online but is not willing to spend time on purchasing goods, finding suppliers, renting a warehouse, and packaging. They go to Prometei, select from the available products, and they are automatically exported to their store. When someone buys something from them, they order the product through our platform, and we handle the assembly and shipping. The person can focus on their main business and generate profit.

I am the CEO of the project, handling IT tasks, business partners, suppliers, trackers, and other aspects. My partner, Nurbol Shynybay, is responsible for marketing and sales.

Our project is already over two years old. We have not attracted external investment and have funded it through our own resources. I sold all my businesses and online stores to invest money into creating the IT product Prometei. From the first month, we started earning, which allowed us to continue developing using our own funds.

Target Audience

Our clients are existing and aspiring individual entrepreneurs. Currently, more than 2,000 individual entrepreneurs are registered on our portal, mostly marketplace traders.

Acceleration Programs

Currently, we are participating in the Google for Startups acceleration program from Astana Hub. 

Challenges

There are plenty of challenges. We are the first major dropshipping platform in Kazakhstan, which has its own advantages and disadvantages. The downsides are that we had to hack the system because we have many different integrations, and no one before us has done this on such a scale. We developed legal, accounting, and payment mechanisms, and worked on properly integrating user data, suppliers, sellers, warehouses, fulfillment centers, and logistics. We invented and implemented a data exchange mechanism, which is one of the most difficult tasks we have had to overcome.

I recommend immediately going through an acceleration or incubation program, especially if you only have an idea. Without this, a person may remain in illusions, believing their idea is unique and fearing to discuss it with friends. By going through an incubation or acceleration program, you will receive feedback and constructive criticism that will help improve the idea and avoid mistakes. Sharing your idea with friends and experts gives you a chance to refine it and become stronger.

Achievements

We have integrated over 1,000,000 products with wholesale prices, including product photos, descriptions, and specifications, with real-time data updates. We have successfully connected five major marketplaces and integrated with several fulfillment centers and couriers.

Our product is self-sustaining; it is cash positive.

We have developed algorithms for sales using artificial intelligence, including dynamic price and stock adjustments based on demand. This allows for automated management even when selling 10,000 products simultaneously.

Plans

The next step is to integrate major Chinese B2B marketplaces and simultaneously enter the markets of Uzbekistan and Kyrgyzstan. 

I hope that the e-commerce market in Kazakhstan will continue to grow rapidly. We observe that the number of sellers is increasing every day. For example, among our clients is a 60-year-old woman who, together with her grandson, successfully sells through our platform and achieves significant turnover.