Nozzle.ai, an eCommerce and advertising optimisation platform for Amazon, has raised $2.6m in funding.
The funding from Parkwalk Advisors, The Angel CoFund, UCL Technology Fund and a syndicate of eCommerce expert angel investors, will accelerate the company’s growth as it looks to attract major international brands and agencies to its proprietary AI platform.
Nozzle.ai – a spinout of UCL’s computer science department – was designed by data scientists and Amazon experts to help brands maximise sales and share category and advertising performance on Amazon. Using the rich transactional and media data sets available through Amazon’s API ecosystem, Nozzle.ai said it provides companies with operational efficiencies, deep insights and delivers continuous media spend optimisation and sales performance across Amazon’s entire ad tech stack. This helps sellers and retailers drive market share and profitability on Amazon.
UCL is internationally recognised for its strength in AI and has a strong record in spinning out successful start-ups, including DeepMind which was wholly acquired by Alphabet in 2015.
The $2.6 million in funding will go towards expanding the team across all business functions and the further development of Nozzle.ai’s product offering – advertising audit, customer analytics and advertising bid management.